Jim Cramer Says "I Think Apple's Quarter Was Fantastic and Its Future Remains Bright"

Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer shed light on recently. Cramer showed optimism around the company’s latest quarter and the stock, as he commented:

People are way too eager to give up on Apple… I think Apple’s quarter was fantastic and its future remains bright… Apple took the whole supply chain by surprise. I am an Apple aficionado from way back proudly, and I know how little hype there is from this company… I don’t believe that Cook and his team would be so ebullient about their discussion of Apple’s current position with me if they knew the component prices were going sky high and they’d have shortfalls galore, which is how the stock was trading earlier today. What would allow Apple to overcome these shortages? First, we don’t know how much supply they have stockpiled…

Second, Apple’s agile, and it should be able to navigate the environment far better than the competition… Third, I know these drive companies… They’re in business with incredible highs and dreadful lows. Periods where orders abound and periods where water runs dry. Apple knows this. The storage makers know this, too. They understand that Apple can be the best client there is… So, they can’t afford to shaft Apple for long. It’s too powerful. This is the time for them to give Apple a break. That way, Tim Cook will remember them when the business turns down.

And that’s why I think Apple… they’re not going to pay anywhere near the list price to be heard all day today. More important, it’s not like Apple’s competitors are sitting on mounds of components either. All of them will have to raise price. Only Apple, though, gets that tremendous, enormous subsidy from phone companies eager to get you to switch carriers. I bet most customers don’t even notice a price change because the phone companies might eat it.

Yes, that could happen. That happened with the tariffs. Of course, I could be wrong. Maybe Apple just gets hammered like everybody else, the casualty of the gigantic maw of data centers that are trying to glom onto all these drives. Or maybe Tim, a supply chain master, has it under control. The Street’s betting on the former to happen. They sent Apple stock way down most of the day. But I’ll take the other side of the trade, the one that won in today’s seesaw session.

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.