Jim Cramer on Apple: "It Worries Me That the Buyers Haven't Figured Out to Buy It Yet"

Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer put under a microscope. Cramer mentioned the stock during the episode and said:

“One listen to the words of Taiwan Semi, one gander at the transcript tells you that it’s worth buying Meta… as well as Apple, which was down today because expensive phones were noted too as having great strength. Apple’s stock has done nothing. That worries me. It worries me that the buyers haven’t figured out to buy it yet. These stocks have done nothing lately. Same goes for Broadcom, which is linked to Taiwan Semi too. That stock rallied three bucks. Maybe today was the day it started.”

Apple Inc. (NASDAQ:AAPL) manufactures and sells devices such as the iPhone, Mac, iPad, along with its line-up of wearables and accessories. The devices are supported by the company’s app ecosystem, AppleCare, and cloud tools. During the January 9 episode, Cramer noted that the company is making a lot of money, as he commented:

“We’ve seen breathtaking rallies in the data storage stocks. We also have some stocks that simply can’t lift, and I gotta mention them, Apple and NVIDIA. I know you want to know if it’s over for these two members of the Magnificent Seven. I come at it a totally different way. I think both Apple and NVIDIA, the companies, are humming along, making a lot of money. It’s simply that money managers need to sell something old if they want to buy something new, so their stocks become what is known as a source of funds. Do you know it’s a time-honored tradition at the beginning of the year? I’ve seen it happen in January repeatedly over the years. You just have to wait these two out. You’ll know when the selling is done. It’s truly not over yet, or the stocks wouldn’t start rolling over every day from the get-go. And you see it as well as I do. I say, own Apple and own NVIDIA, don’t trade them. Nothing’s changed for me… Are they [the house of pain]? Nah, wrong address.”

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