Jim Cramer on Apple: "Don't Trade It, Paid off Again"

Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer spoke about recently. Cramer said that the company reported a “pretty darn good quarter” and stated:

“How about Apple? I think they reported a pretty darn good quarter… Certainly don’t trade it until you hear what they say on the conference call. And oh boy, CEO Tim Cook told an excellent story, calling out strength across almost all the company’s products and services, giving very strong guidance for the current quarter. I mean, like I’m talking ramp. And on the call, it became clear that the iPhone 17, hey, who told you it was good, thank you… has been a smashing success. Coming into tonight, Wall Street was expecting 6% overall growth for Apple in the current quarter, roughly 6% growth for the iPhone specifically. But tonight, they said it’s going to be 10 to 12% revenue growth, and the iPhone will be up double digits too. At the same time, Cook told me tonight that he expects China to return to growth this quarter. As an Apple acolyte, I couldn’t believe this. Suddenly, the two biggest pain points, [the house of pain] become [the house of pleasure] because the quarter was just that good and the guidance was much better. Which is why, ultimately, Apple got a nice pop in the after-hours trading, and I expect more. And by the way, can I just explain to you, this, it looks like my anger about the right to own Amazon over this week, and my… admonition to own Apple, don’t trade it, paid off again. And what’s really important for you to know, everyone thought Apple stock looked expensive, but when you saw the future, you realize, hey, maybe it wasn’t that expensive after all.”

Apple Inc. (NASDAQ:AAPL) designs and markets smartphones, computers, tablets, and wearables, along with accessories and digital platforms.

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Disclosure: None. This article is originally published at Insider Monkey.