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Thursday, October 05, 2006

Cramer Says You Can Still Buy Starbucks

On Starbucks (SBUX): Cramer said "I was wrong that it was going to $40. It's Going to $50. You can still buy it."

He said don't throw a good CEO under the bus for one bad month, and stick with companies that that can still expand in new countries like China. Cramer had Howard Schultz, CEO of SBUX, on his show. He said that Starbuck's goal is 40,000 and 20,000 of those outside of North America. They also reviewed the joint iTunes offering with Apple. Cramer said you can still buy it.

Starbucks closed up 7.59%, or $2.73, at $38.69 in regular trading on strong store numbbers, but now it is up another 0.8% at $39.01 in after-hours trading.

Jon C. Ogg
October 5, 2006
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