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Shares traded mixed on Monday amid uncertainty over the Biden administration’s stimulus plans and as investors braced for a busy week of tech earnings, including Apple and T.
TheStreet’s Katherine Ross and Jim Cramer discussed the latest news in the stock market. Cramer explained how to trade Apple, GameStop, and the Markets on Monday.
Apple: buy or sell?
Apple technology giant (AAPL) – Get the report Monday received a price upgrade from Wedbush analyst Dan Ives as he expects the iPhone maker to post robust results this week.
Ives said that “the hype of Apple’s iPhone 12 supercycle has become a reality” led by Asia. Ives upped his iPhone 12 sales forecast by 35% to over 90 million.
Cramer said analysts are raising Apple’s expectations to the extent that sometimes Apple CEO Tim Cook can’t meet them. “It helps that there is a president who has not directly challenged President Xi. It is quite possible that you see people owning Apple phones in China and there is also a shortage of Huawei.”
GameStop: buy or sell?
GameStop Actions (GME) – Get the report increased as the dispute between retail investors and short sellers over the loss-making video game retailer continued.
Last week Andrew Left, managing partner of short seller Citron, said he was abandoning the stock due to bull harassment.
Cramer said that there are people on WallStreetBets who understand that short positions [on stocks] do not correspond to what might happen. “After Ryan Cohen of RC Ventures [and the founder of Chewy] joined GameStop’s board last week, he made people feel that GameStop might be coming back. It closed on a record high last week entirely in an attempt to “squeeze” the short sale of Citron Research, which bet against GameStop shares on January 19.
Monday markets
Cramer said investors could trade off in growth and in value. “I did not like this rotation because I am always afraid, at the beginning of the year, that the animal spirits make people rise in value, which is therefore too high. It could happen. In the meantime, growth stocks, which is pretty much tech and healthcare, are making a comeback. I see an amazing transition on the fly from value stocks to tech and healthcare, not much beyond that. “
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