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Jim Cramer's Stop Trading! 2/26/08: Much Ado about Price Wars

Maybe Jim Cramer forgot to notice that the $15 billion buyback actually adds about 65 cents to this years earnings. Not to mention raising earnings by 5 cents at the same time.

The reality is that IBM just reduced it's cash position and lowered it's guidance by 60 cents. Depending of course on how you want to look at it.

Research in Motion: Unlike Apple, No Slowdown in Subscriber Growth

RIMM's CEO just gave a mid quarter update of subscriber growth yet made no assertions regarding how that affects top line revenue or profitability. This reeks of the days of 2000 when people made ridiculous statements that would send a stock flying. Any CEO worried about making statements is more worried about the stock price than his company's execution. RIMM statements, followed by two upgrades by junior analysts in the following days is a bit sketchy. We are not in a market that prices in growth anymore...fundamentals will be judged and at the end of the RIMM's stock price is unjustified at a 58 PE. Apple/GRMN/GOOG have been knocked off their perch and so will RIMM (again).

This is an irresponsible post. We'll know more once Apple and RIMM release their next set of earnings in April.