Mad Money’s Jim Cramer changes Price target for Apple Inc. (AAPL, MOT, NOK, MSFT, DELL)

Jim Cramer changed his estimate of Apple Inc. (NASDAQ: AAPL) shares from $264 a share to $300 a share after a fruitful earnings call. In the earnings call, Apple discussed how their products, the iPhone, iMac and Mac Books, have been competing favorably against industry giants Dell (NASDAQ: DELL) , Microsoft (NASDAQ: MSFT), Nokia (NYSE: NOK), and Motorola (NYSE: MOT) despite having only 3% market share in the world mobile phone market and 4% share in personal computers.

He arrived at the price of $300/share after predicting that the earnings will reach $13 a share and money managers will be willing to pay a one time growth fee of 30%. A growth of 30% on 13 dollars would normally lead to a prediction of $390 but Cramer lopped off $90 because he thought no one would believe him at that price.