Jim Cramer’s Bold Predictions About These 15 AI Stocks

6. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders In Q3 2024: 158

Date of Cramer’s Comments: 8-16-24

Performance Since Then: 13.09%

Apple Inc. (NASDAQ:AAPL) is the world’s most valuable technology company. With more than 50% of its revenue coming from the iPhone, the smartphone plays a key role in the firm’s hypothesis. Any whispers surrounding sales weakness tend to hurt the stock. In 2024, investors have focused on Apple Inc. (NASDAQ:AAPL)’s ability to leverage its loyal customer base to push AI services to the consumer. They have also wondered whether Asian economic weakness could spell trouble for the firm. Apple Inc. (NASDAQ:AAPL) is existing 2024 on the cusp of becoming the world’s first company to touch an unbelievable $4 trillion market capitalization. Here’s what Cramer said about the firm in August:

“Buffet’s the best there is. So he’s the best. People looking in his moves and end up extrapolating to the point of absurdity and that’s why they dumped the bags. It’s why they dumped Apple we heard it was based on Apple supposedly weaker Chinese sales, yet CEO Tim Cook told me just the week before that the sales were probably strong strong and I detailed why that was for the rest of the week until we got a positive jobless claims number. Thursday morning, we labored under the delusion that our economy was headed for a recession potentially a worldwide recession all because of Japan and the safest thing to do do was to sell. It didn’t matter that Japan only bounced back 10% the next day. What mattered was the smart money was getting out of the whole asset class and we felt like dopes hanging on in reality. it was the dumb money that was getting out, because Warren Buffett or one of his assistants made us nervous. Of course we knew nothing about why he sold.”