Jim Cramer on Apple (AAPL): "Doesn't Hurt That They've Avoided Spending Hundreds of Billions of Dollars on Data Centers"

Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer looked at recently. Cramer highlighted how the company avoided spending too much on AI, as he commented:

Last Thursday, Apple reported a magnificent quarter with blowout iPhone sales and staggeringly good numbers from China, which had previously been one of their worst regions. Apple also offered strong gross margin guidance for the current quarter, which suggested that they aren’t getting killed by high memory prices, at least not yet.

While there was some initial handwringing about what might happen beyond this quarter, buyers eventually shook off that concern and were able to send the stock higher. After barely moving last Friday, Apple’s rallied nicely… You know, it’s now up almost 8% since the quarter. Doesn’t hurt that they’ve avoided spending hundreds of billions of dollars on data centers by simply partnering with Google’s Gemini on AI. As I always said, own Apple, don’t trade it. That’s what we do for the Charitable Trust.

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.