The Cheerleader Jim Cramer Goes Ga-Ga for Apple, Raises Target to $325

This evening Jim Cramer raised his price target for Apple to $325 based on a $22 FY2011 earnings estimate.

He points out that Apple is not only a technology company, but is also the greatest retailer in the world. He points out correctly that they are making over $4k per square foot of retail versus Whole Foods, the second most efficient retailer, which makes $800 per square foot.

I cannot stand Cramer. I think he is the biggest spanker in the world and I usually just turn off the TV when I see him.

I use Apple products, but I have never been so crazy about the stock.

However, when you look at the company it does look like a once in a lifetime thing. I actually think Cramer is probably right.