Has Wall Street turned on Apple Inc. (NASDAQ:AAPL)?
It seems that way to Jim Cramer. Despite all the positive news about the company lately, its share price hasn’t been rising with the rest of the market. This is a sign that the Street has had it with the mighty tech giant.
There is a way to fix this, Cramer said, but it doesn’t involve a sizable share buyback like activist investor Carl Icahn is suggesting. Instead the company should look to make a big acquisition. And not just some fledgling startup -- Cramer think the company should bid $35 billion for Twitter Inc. (NYSE:TWTR) or buy Netflix, Inc. (NASDAQ:NFLX) for $30 billion.
Cramer’s argument, according to Valuewalk.com, is simple: Apple needs to acquire a company with “super-growth” potential to jump-start its stock price. When it comes to Icahn’s proposal, Cramer thinks it is a “big mistake” because it won’t affect the company over the long term.