Jim Cramer Discusses TikTok Ban, President Trump & These 6 Stocks

2. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders In Q3 2024: 158

Consumer electronics and technology giant Apple Inc. (NASDAQ:AAPL) is another stock that’s regularly on Cramer’s radar. Most of his remarks this year have revolved around social media CEO Mark Zuckerberg’s remarks that innovation had ended at Apple since Steve Jobs’ death and around the upcoming earnings. Cramer disagrees with Zuckerberg’s assessment, and his latest comments about Apple Inc. (NASDAQ:AAPL) tied his beliefs about the upcoming earnings with recent analyst coverage:

“Apple’s gonna miss big. I mean I can’t believe that anyone is still around who thinks that they haven’t guided down enough. I mean the new one obviously is that the quarter’s going to be bad but wait till you see the guidance. It’s really. . . .I mean AI’s not working and everyone is missing the fact China orders have plummeted, everyone, I mean you could go on the subway, like David does, and ask the average person how’s Apple gonna do. And they’re gonna say it. They’re gonna miss. You know if everybody thinks something is a surprise, it’s not a surprise! Okay. They’re acting like it’s, they’re acting like it’s the Commanders.

“[On Jefferies’ note] I think that given them a chance to, if this thing goes to two hundred, one and ninety, to upgrade. I think he’s got the flexibility. A lot of people do it. Look, I’m adamant that this is not a good quarter. I’m adamant that the next quarter is going to be guided down. I’m also adamant that if you bought it or held it through many of these cycles, you made a lot of money. And I don’t want people at home to get out and then get back in because that’s failed as a strategy for Apple endlessly.

“[on consumers not interested in Apple’s AI innovation] Well all I can tell you is that, Apple doesn’t have to pay for its AI. And that’s what people should be thinking about. Their gross margins could be fabulous on AI. By the way, it isn’t like Apple comes out with anything that is absolutely perfect when it starts. Vision Pro. They lowered the price. . . .I know they’re not supposed to issue anything that isn’t perfect. But AI is controlled by another company and they’re using their AI.”