Cramer's Stop Trading! No One Is Buying Best Buy? (12/15/09)

Includes: AAPL, BAC, BBY, C, T, VZ, WFC
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment,Tuesday December 15.

Citigroup (NYSE:C), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Best Buy (NYSE:BBY), AT&T (NYSE:T), Apple (NASDAQ:AAPL), Verizon (NYSE:VZ)

Citigroup (C), Bank of America (BAC) and Wells Fargo (WFC) are producing a total of $51 billion in equity to pay off TARP funds. In the past few days, Citigroup's share price has dropped dramatically, and Cramer would be a buyer at $3.25.

"We all keep asking how can the market take all of this stock and not get hammered?" Cramer asked. "When you have a market that can take this much pain and keep going, who knows what would happen if anything good happens."

Best Buy's (BBY) 8.6% drop after good earnings is undeserved, according to Cramer, who confesses that he is puzzled by the sudden decline in Best Buy's stock price.

According to a Nielson report, it is Apple's (AAPL) technology not AT&T's (T) that is to blame for dropped calls. The chips that connect the iPhone to towers would cause the same problems with Verizon (VZ) or any other company. Cramer dismisses the negativity against Apple as the result of the report as mere "chatter," and says if Apple is to blame, it will resolve the problem promptly; "Apple is the most customer-friendly company I have ever dealt with. I am not going against those guys."


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