Jim Cramer Analyzes Apple's Recent Market Performance

Published 9 hours agoAAPL

Jim Cramer Analyzes Apple's Recent Market Performance

Jim Cramer, host of CNBC's 'Mad Money,' has shared insights on Apple Inc.'s current market challenges and opportunities. He pointed out that weak pre-orders for the iPhone 16 have triggered a notable sell-off in Apple-related stocks. Furthermore, Cramer highlighted a significant decline in Apple's iPhone sales in China—19.1% in the first quarter of 2024—causing a drop in market share from 19.7% to 15.7% over the past year.

According to market data, Apple's stock (AAPL) is currently trading at $205.35, marking a 3.78% decline from its previous close. The day saw the stock open at $206.00, with an intraday high of $208.02 and a low of $202.27. Cramer also discussed Apple's high price-to-earnings ratio of 33, suggesting it remains justified due to their robust revenue generation and innovation.

Cramer added perspective on the ongoing antitrust lawsuit against Apple by the U.S. Department of Justice, expressing skepticism about its merit and labeling it as a potential buying moment for investors. He further advised a long-term investment approach, recommending that investors 'own' rather than trade Apple stock to capitalize on its enduring market strength and growth potential, Reuters reported.

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