Jim Cramer: Stop trading, buy Apple

Cramer said that there is a "grudging recognition" in the market, especially after Nokia's cautious guidance, that the iPhone will continue to win among smartphones. He said the iPhone is "huge, and when we get the next iteration ... it's going to be game, set, match." He also remarked that "there's no stock for sale. They keep buying it up."

Cramer also described a new Mac product called "Conversation" that will "bring Apple to the forefront of instant messaging." This may have been a misquote, Cramer was probably referring to iChat AV, not a new Apple product.

In related news, AppleInsider is reporting that Apple was granted a patent for iPhone instant messaging on the iPhone in March that they originally filed in August 2007.

When the market closed yesterday (21 April 2008) AAPL was trading at US$168.16, up $7.12 (or 4.42 percent). Apple will hold a conference call to discuss financial results of its second fiscal quarter tomorrow (23 April 2008) at 2:00 p.m. PT/5:00 p.m. ET.