Morgan Stanley upped its price target on the stock to $247 from $231 Monday, which triggered the stock to rally 2.3% during the session.
Cramer has stressed that buying the stock of a company before it reports earnings is a risky venture. He called theHuberty wrote in a note that Apple is an "attractive setup into earnings," predicting that the company's services business could have grown more than 16% against the backdrop of negative investor sentiment and conservative guidance.
"We hate it at 'Mad Money' when stocks run [going] into earnings ... the reaction of a stock to what we call the 'print' will often depend on what it's done beforehand, and that comes down to these kinds of calls," Cramer said. Still, the host recommends investors sit on the sideline and digest Apple's report. It's a stock he always says you must own and never trade.
what in this market doesn't jimcramer ?
What’s the motive to give price targets dats before earnings? Why not wait for the results then give some analysis? Just leading sheep to slaughter. They aren’t giving out these targets out of the goodness of their hearts to help the mom and pop investor.
100% agree. iPhone sales should be way down.
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