Cramer: Apple doesn’t need to pay a dividend

“There’s way too much chatter about what Apple has to do with its cash position and not enough about Apple’s earnings,” Jim Cramer writes for The Street.
“And I don’t even want to go into the idea of the stock split. If you really need a stock split to buy, move on,” Cramer writes. ” I accept the dichotomy between a growth stock and a value stock…. [Apple] is a growth stock. It’s got some terrific earnings momentum and can earn $55 a share for fiscal year 2012. That’s phenomenal growth, and in classic earnings-per-share growth analysis, measuring the company’s growth vs. its price-to-earnings multiple, Apple may be the cheapest growth stock I know.”