Jim Cramer Says "I'm Not Changing My View, I Say, Own Apple, Don't Trade It"

Apple Inc. (NASDAQ:AAPL) is one of the stocks in focus as Jim Cramer shared his weekly game plan. Cramer highlighted why the stock has been down for the past few weeks, as he stated:

Apple’s stock’s been down for eight straight weeks. Quite a dry spell. Why is that? I think it’s the other side of the storage trade that everybody loves so much. Apple’s a customer. It needs storage. They have to pay up for storage, but there’s not enough to go around. Prices are way up, and bears say that Apple phones, as popular as they are, will show declining gross margins because of how much they have to pay for these storage components. I’m not changing my view. I say, own Apple, don’t trade it. But I respect the fact that if Apple guides margins down, it is reasonable to believe that the decline is not over.

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.

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