Cramer makes another moronic call

Jim Cramer, once again, make an idiotic call this morning, stating that Apple is “building momentum” and should continue to perform well because they are selling iPhones and iPads.  This after the stock has gain about 75 points in a very short time, and at a point where most people that want to have an iPhone or iPad already own one.  Yes they can upgrade as new versions are released, but the point is that Apple’s stock price already reflects the maximum possible impact from tremendous iPhone and iPad sales.  Where are the new products – the next iPhone, iPad, or iPod??  Without Steve Jobs driving innovation, I am not convinced that Apple will continue to release strong products, and without new products that rival the iPhone, iPad, and iPod, I do not believe they can sustain their stock valuation.  As I have written, a strategy where the investor basically does the opposite of what Cramer recommends is probably a winning strategy!

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