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.
“One thing’s for sure after this run, it would be a mistake to buy Apple going into the quarter, unless you get a meaningful pullback beforehand, the “Mad Money” host said. “The gulf between the bulls and the bears is just too wide for us to game Apple.”
Cramer has stressed that buying the stock of a company before it reports earnings is a risky venture. He called the bullish take from Morgan Stanley equity analyst Katy Huberty a “bold move.”
Huberty 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.
Still, at least…