Jim Cramer’s Bold Predictions About These 12 AI Stocks

4. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders In Q3 2024: 158

Date of Cramer’s Comments: 09-05-24

Performance Since Then: 0.18%

Apple Inc. (NASDAQ:AAPL) is the largest consumer electronics company in the world. Since Cramer’s comments in September, the stock has been flat and has added a negligible 0.18%. However, this doesn’t mean that the actual performance has been lackluster. Between September and late December, Apple Inc. (NASDAQ:AAPL)’s shares gained a respectable 16.5%. Since then, they have lost 14% on the back of analyst downgrades and a report suggesting that iPhone shipments in China fell by 17% in 2024. Loop Capital’s downgrade to Hold from Buy with a $230 price target (down from an earlier $275) along with bearishness from Jefferies haven’t helped the case either. Here’s what Cramer said about Apple Inc. (NASDAQ:AAPL) in September:

“In fantasy football, what you want is steady production and solid performance week in and week out. That’s why I’ve long said that Apple, the original “own it, don’t trade it” stock, is like the quarterback of your portfolio. Last year, I said Patrick Mahomes from the Chiefs was the Apple of the NFL, and that analogy worked pretty darn well, as he led the Chiefs to their third Super Bowl victory in four years. Meanwhile, Apple is up more than 20%.”