Jim Cramer’s Latest Game Plan: 20 Stocks to Watch

5. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders: 184

Cramer expressed some degree of belief in the chatter surrounding Apple Inc.’s (NASDAQ:AAPL) iPhone 16 launch. Here’s what Mad Money’s host had to say:

“Thursday can top Wednesday because that’s when Apple and Amazon report. Now we’ve heard lots of negative chatter about the iPhone 16 launch. I think that the chatter is right. I think people will rush to sell. I say hold on, we’ve seen this movie before. Apple’s had suboptimal launches before and the best strategy has been to own it, don’t trade it. I bet we’ll be right again. Now, I want you to gird yourself for a weak number. Everyone’s expecting a weak number. When you get a weak number, guess what? The stock goes down and then you have to buy. Be ready to do so.”

Apple (NASDAQ:AAPL), renowned for its iPhone, has established itself as one of the most respected companies in the technology sector. Recent market reactions, however, suggest a note of caution among analysts and investors regarding the iPhone 16. On October 28, as per TipRanks, JPMorgan analyst Samik Chatterjee reported on the firm’s Apple product availability tracker, noting that in the seventh week since the introduction of the iPhone 16 lineup, delivery lead times across all models have moderated.

This trend is particularly evident in the Pro models. While this moderation is slightly higher than observed in the same week last year, overall lead times remain comparable to those for the iPhone 15. According to the analyst, this suggests that demand for the new models is still present, though it appears modestly below the levels seen at this time last year.

Chatterjee’s analysis also highlights expectations for Apple’s (NASDAQ:AAPL) upcoming September quarter results, which may exceed initial forecasts, but guidance for the December quarter is anticipated to be weaker. He pointed out that sell-through for the iPhone 16 series began slower than for the iPhone 15.

Although recent weeks have shown improved momentum, the increase is not significant enough to reach volumes seen in previous launches. As a result, forecasts for iPhone revenues in fiscal Q1 are expected to be below consensus estimates. Nonetheless, JPMorgan maintained an Overweight rating on the stock, with a price target set at $265.