4 China Rebound Stocks to Buy According to Jim Cramer

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 131

Apple Inc. (NASDAQ:AAPL) is a consumer electronics firm. Cramer has dismissed concerns around supply-chain problems that the company is facing in China, noting that the firm was among a handful of American companies with “pricing power”. He also advised investors to stick with “profitable, recession-proof” stocks in the present market environment. Cramer noted that the company was one of the only tech giants that would benefit the most from a China reopening in the coming weeks. 

On July 1, JPMorgan analyst Samik Chatterjee maintained an Overweight rating on Apple Inc. (NASDAQ:AAPL) stock with a price target of $200, noting the near-term fortunes of the company remained resilient despite macro concerns on the economy. 

At the end of the first quarter of 2022, 131 hedge funds in the database of Insider Monkey held stakes worth $182 billion in Apple Inc. (NASDAQ:AAPL), compared to 134 in the previous quarter worth $186 billion.

In its Q1 2022 investor letter, Weitz Investment Management highlighted a few stocks and Apple Inc. (NASDAQ:AAPL) was one of them. Here is what the fund said:

“Changes to the Apple Inc. (NASDAQ:AAPL) mobile operating systems have temporarily impacted growth of Meta’s advertising business just as the company’s investments in Instagram’s “Reels” feature ramp ahead of full monetization. (Shareholders can read research analyst Jon Baker’s in-depth discussion of current events impacting Meta and reasons why we’re optimistic about the company in our recent Analyst Corner feature.) CoreCard (formerly Intelligent Systems) struggled early in the fiscal year to hire and train staff to handle growth from new and existing clients. Lately, Apple-related headlines also took a bite out of CoreCard shares, as reports suggest Apple Inc. (NASDAQ:AAPL) is exploring a transition of its credit card and other financial services to internally built solutions. Such a move would create revenue headwinds for its partners, which CoreCard is widely believed to be. We are monitoring these developments and stress-testing our model accordingly.”

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