Jim Cramer on Apple: "Call Me Sanguine About Apple"

Apple Inc. (NASDAQ:AAPL) is one of the 14 stocks on Jim Cramer’s radar. Cramer rebuffed the downgrades that Apple Inc. (NASDAQ:AAPL) has been receiving of late, as he commented:

“Hey, finally there’s a stock that people now love to downgrade… I’m talking about Apple. I expect to hear some downgrades tomorrow because of today’s supposedly ho-hum Worldwide Developers Conference… But what the critics seemed to be missing constantly is that the only question I heard was upgrade or not. Did you hear switch? I didn’t hear switch. As long as I didn’t hear switch, I’m going to hold the stock…

First, Apple’s in a dry spell. It doesn’t have anything new that the people want, but it has plenty of optionality… What it should do, it should just go acquire Perplexity. I know they don’t like acquisitions…. I wish they’d buy it… Perplexity is my favorite, and they definitely can afford it. Second, right now, Apple’s staring down two guns, one a ruling that declared Google a monopolist that may end its largesse toward Apple, like the $20 billion check it wrote to them in 2022 to be the default search engine. It’s also on the verge of losing a key case involving Epic, the gaming company, that would let them get around the 30% chunk that Apple takes from every transaction in the App Store. I think Apple could lose one. Probably won’t lose both…

Finally, let’s understand something. Apple is not a company that stands still… Can we stipulate that in the last year, it’s reasonable to believe that Tim Cook, the CEO, might have been a little distracted? Here’s a man… who’s been trying to do everything he’s supposed to do in order to meet the demands of the president of the United States. The president wanted investment in the U.S. What does he do? He announces that Apple’s going to spend $500 billion in the US over four years…

President then made it clear he didn’t want Apple to make as much product as it did in China. So unbelievably and in almost no time… Cook moved a huge amount of iPhone production to India. Then Trump says that India’s not the right place. The phones have to be made here. I mean, come on… But the bottom line: As long as nobody switches to Android, call me sanguine about Apple. Not more than that, not certainly less than that. Sanguine doesn’t mean buy, but it sure doesn’t mean sell…”

Apple (NASDAQ:AAPL) designs and sells consumer electronics like smartphones, computers, tablets, wearables, and accessories. The company provides subscription services such as Apple Music, Apple TV+, and Apple Arcade and operates platforms including the App Store and Apple Pay.

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