Jim Cramer throws cold water on DOJ’s lawsuit against Apple, calls it a ‘buying opportunity’
CNBC’s Jim Cramer this week threw cold water on the U.S. DOJ’s antitrust case against Apple, calling this action a buying opportunity for AAPL stock.
“The decision by the Justice Department to go against Apple will end up like any of the myriad analysts who’ve gone from buy to hold on Apple’s stock during my time,” he said. “It’s creating still one more buying opportunity, because the regulators, they ain’t got nothing for you.”
[T]o Cramer, the DOJ hasn’t found any “smoking guns” that implicate Apple as a guilty party. Cramer maintained that this lawsuit creates a buying opportunity for the stock.
“I just got a whole brand spanking new reason to buy Apple, don’t trade it,” he said. “I know a loser case when I see one, and the United States of America versus Apple is a loser.”
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MacDailyNews Take: Yup.
The U.S. DOJ is going to waste a ton of U.S. taxpayers’ money because they don’t consider it taxpayers’ money, they wrongly consider it their money, and, as such, they’re fine with wasting tons of it to make some hackneyed political statement (“look, we’re protecting you little people from big, bad business!”) in an election year. This DOJ fiasco should actually be accounted for as a campaign expense.
AppleInsider‘s William Gallagher and Mike Wuerthele have written an article which highlights the flimsiness of the DOJ’s case. Read it here: Apple will crush the DoJ in court if Garland sticks with outdated arguments.
Interns: TKK, please! Prost, everyone!
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