Jim Cramer Reveals 12 Stocks Investors Should Monitor Closely

2. Apple Inc. (NASDAQ:AAPL) 

Number of Hedge Fund Investors: 184

Jim Cramer reported that Bernstein believes Apple Inc. (NASDAQ:AAPL)’s launch of the iPhone 16, both the base and Pro models, will be “relatively strong” this year. However, the rollout could be affected by delays in Apple Intelligence, the new system that will incorporate generative AI. Analyst Toni Sacconaghi maintained an “outperform” rating for Apple Inc. (NASDAQ:AAPL) and set a price target of $240.

“Bernstein said Apple ’s launch of the iPhone 16 base and Pro this year should be “relatively strong/normal” but could be skewed by the delayed rollout of Apple Intelligence, the system that will use generative AI. Analyst Toni Sacconaghi kept his outperform rating and a price target of $240.”

Apple Inc. (NASDAQ:AAPL)’s strong outlook is backed by impressive Q2 2024 earnings, with total revenue of $95 billion, an 11% increase from last year, and a net income of about $23 billion. Apple Inc. (NASDAQ:AAPL) growth is largely driven by robust iPhone sales, which rose 15% thanks to new model releases and upgrades. The iPhone remains central to Apple Inc. (NASDAQ:AAPL)’s revenue, with high demand for the iPhone 15 series due to its appealing features for both new and existing customers.

In addition, Apple Inc. (NASDAQ:AAPL)’s services segment, which includes iCloud, Apple Music, and the App Store, grew by 20%, reflecting successful ecosystem expansion and higher profit margins. Wearables like the Apple Watch and AirPods are also becoming popular, driven by increased consumer interest in health and fitness.

Apple Inc. (NASDAQ:AAPL)’s planned entry into augmented reality (AR) and virtual reality (VR) markets with a new headset is expected to create new revenue opportunities and strengthen its presence in emerging technologies. Strong brand loyalty and an integrated ecosystem help retain users and encourage repeat purchases. Recent product launches and sustainability efforts, such as aiming for carbon neutrality in its supply chain by 2030, further attract environmentally conscious consumers.