CNBC Investing Club: Cramer’s Morning Take on Apple 10/20/26

SPEAKER_1 (0:00)

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SPEAKER_2 (0:26)

When it comes to trading, we all know that the click is the smallest part of the whole thing. It's the hours before it. The chart work, the notes, the what's my risk, what's my exit stuff. And then there's all the reviewing when it doesn't go exactly how you drew it up. That's what Schwab Trading is built around. Think or swim trading platforms give you the tools to go deeper. The education tailored to your level, and a trade desk full of real trading specialists you can talk to day or night. If that sounds like what you've been looking for, go to schwab.com/trading and learn more.

Jim Cramer (0:58)

Jim Cramer here to share a short preview of my take on the market from today's members only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 10:20 a.m. Visit cnbc.com/morningtake to sign up today. That's one word, morning take.

Jeff Marks (1:20)

You mentioned the Apple downgrade earlier. This was the hold at Loop Capital. They lowered the price target to 330

Jim Cramer (1:25)

Wow, I've heard of Loop Capital.

Jeff Marks (1:26)

It's a dreaded supply chain check where they saw a reduced iPhone unit shipments for the September and December quarter not getting made up in 2027

Jim Cramer (1:36)

No, because everyone wants to duo and the 18 is a little expensive, but I should buy it. I have the 18 You need the 18 for a great camera. That's what it's really terrific about.

They have the 18, but they also have the duo. They have the home. They have a lot of products. Look, this is totally... Yeah, okay, so look at this. I bought an Apple in five. Okay, that's when we first bought it. At five, do you know how many times I've had downgrades because of channel checks? Well, so the simple question is who's right? Is five to 341 better than 343 to 341?

Well, if you're to hedge fund, the answer is the latter is better.

Jeff Marks (2:16)

I believe that was the genesis of own it, don't trade it, right? Is to own it through noise where you see these supply chain checks and you don't want to give up on such a great company because of whatever, some analysts is hearing.

Jim Cramer (2:30)

No, that's not how you invest. I look at, look, we have COF tonight, Capital One. I look at MasterCard and I say, okay, we made a big investment in Capital One because of Richard Faribank, but MasterCard is better.

We are betting that if they don't unlock value, I would tell you that MasterCard is better than what we own. It's beginning to rankle me and I'm not sure exactly what to do because MasterCard has now gotten away.

Jeff Marks (3:02)

Yeah.

Jim Cramer (3:02)

But this is the kind of thing, it's only up 8 percent for the year, but it's an incredible company, there's no credit risk.

This is what plagues me. It plagues me because I say, I could have MasterCard but I was banking on Richard Fairbank to integrate Discover and do something.

Jeff Marks (3:17)

Yeah. Well, credit should be fine just based off what we saw from the big banks last week. But as has been the question for multiple quarters is, how aggressively are they investing in a lot of these deals, which increases expenses and that has limit some of the big EPS upside that we saw last year with Capital One. So just something to watch after the bell tonight.

SPEAKER_5 (3:45)

All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Cramer on television, radio, Internet or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Cramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment or strategy. To view the full CNBC Investing Club disclaimer, please visit cnbc.com/investingclubdisclaimer.

SPEAKER_2 (4:17)

When it comes to trading, we all know that the click is the smallest part of the whole thing. It's the hours before it, the chart work, the notes, the what's my risk, what's my exit stuff. And then there's all the reviewing when it doesn't go exactly how you drew it up. That's what Schwab Trading is built around. Think or swim trading platforms give you the tools to go deeper. The education tailored to your level and a trade desk full of real trading specialists you can talk to day or night. If that sounds like what you've been looking for, go to schwab.com/trading and learn more.