Jim Cramer is Talking About These 5 Stocks

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1. Apple Inc (NASDAQ:AAPL)

Number of Hedge Fund Investors: 131

Jim Cramer seemed worried about Apple Inc (NASDAQ:AAPL) in a latest program on CNBC. He said there’s an “inventory bubble” developing amid slowing phone sales and Apple Inc (NASDAQ:AAPL) might report “no growth” or even “down revenue.” If that’s the case, Cramer said the stock might struggle to stay at $160. Cramer also said despite the declines the “darn thing” still sells for 25 times earnings which is too high a multiple. However, he believes the upcoming Developers Conference in June could bring growth catalysts for Apple Inc (NASDAQ:AAPL) if the company positions its Vision Pro for the enterprise. Cramer also said that Nvidia CEO Jensen Huang has talked about his interest in doing business with Apple Inc (NASDAQ:AAPL). If the two companies join hands in the AI domain, Apple Inc (NASDAQ:AAPL) stock could be a “screaming buy.” Cramer said that his long-term view on Apple Inc (NASDAQ:AAPL) remains unchanged and he still urges investors to “own it, not trade it.”

Orbis Global Equity Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its fourth quarter 2023 investor letter:

“Never before has following the crowd made so much money. Nor, in our estimation, so little sense. But just look at the opportunities the crowd has left for those of us willing to take a different view. We could wax lyrical about the glaring difference in value between Korean banks priced at 4 times earnings, versus Apple Inc. (NASDAQ:AAPL) at 28 times, despite diverging fundamentals—Apple is increasingly at risk of bans in China, while Korean banks could double their dividends.”

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also look at the Jim Cramer Says You Should Avoid These 11 Stocks and the Jim Cramer Says You Should ‘Buy, Buy, Buy’ These 11 Stocks.

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