“Jim Cramer’s ‘Own It, Don’t Trade It’ Approach with Apple Proved Successful in Volatile Markets”

Jim Cramer, the financial commentator, has been adhering to his “own it; don’t trade it” philosophy on Apple for quite some time. According to him, this week showed the payoff of patience in action. Cramer had earlier identified four significant hurdles in the market that included the Federal Reserve meeting on Wednesday, the jobs report on Friday, the debt ceiling, and Apple’s earnings. However, patience appeared to have worked with Apple this week, primarily because of stronger-than-expected iPhone sales, which helped the company post top- and bottom-line beats for the fiscal second quarter. Cramer stated that he refused to let one errant component supplier or a few joker-brokers shake him out of the world’s best company. He admits that for his first decade in the business world, he would dread weeks such as this one and trade out of them, attempting to get flat as an alternative. But with time, he has embraced the unknowable as long as it was on a schedule.