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| Apple Inc. (Photo credit: marcopako ) |
-25.95 (-4.32%) 
] recent big-dollar decline is hardly a cause for concern, “Mad Money” host Jim Cramer said Wednesday. The company declined, closing more than 4 percent down at $573.97 per share. “But don’t let the big numbers fool you,” Cramer said. “I find that if you divide everything by 10, things become a lot clearer. If Apple were a $60 stock, not a $600 one, and it fell $3, you wouldn’t freak out, particularly after what was, indeed, a serious disappointment.” Cramer said that the stock was basically “dinged.” So why not sell? Part of the reason is valuation. Apple, Cramer noted, is selling for less than 11 times next year’s earnings. “It’s among the cheapest stocks I follow, offering phenomenal growth for a price rather similar to many cyclical semiconductor names,” he said. “It is much, much cheaper than any packaged-goods stock I follow, yet the food and household products companies grow very slowly and many have become inconsistent in their earnings reports.” ... Continue to read.
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