Cramer's Morning Take: Apple 10/28/24

Jim Cramer (0:02)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. Jeff, I mean, you can't have all these stocks go up ahead of quarters that are meant to be, at least that we're looking at. Let me just, you know, Apple, I think, misses the quarter, because of the 16 Alphabet has done nothing to clarify what's going on with its internet strategy or with Waymo. You have Microsoft, many of us on every day, complaining that Copilot's a loser, and so did Gartner say that. And Amazon gave you a very weak forecast. The only one that was really positive was Meta. So four out of five could be bad this week.

Jeff Marks (0:42)

I mean, if Apple does, in fact, miss a quarter, are you concerned with that at all?

Jim Cramer (0:46)

Absolutely, and that's why I try to warn people in our Weekend Peace that you have to ride it through, because the reason why it's weak is because there are people who want to wait and see for the full AI suite. It makes them tell you, I do too. I mean, I was going over, I said, should I, you know, trying to figure out the 13, is it time? Yes, it's time for me to upgrade. And my wife said, how can you pull a trigger on the 16? You don't even know what it has. I think that discussion is going on all over this country.

Jeff Marks (1:14)

Yeah, and I think even after the rollout of Apple Intelligence, which I think is the first rollout is this week, and then you'll have some other features like ChatGPT integration at a later date. Yeah, it's going to take some time. It's going to take some word of mouth, just as you described with the conversation you had with your wife.

Jim Cramer (1:32)

Apple's up two bucks today.

Jeff Marks (1:34)

Yeah.

Jim Cramer (1:34)

It's coming in too hot.

Jeff Marks (1:36)

I wonder if maybe the decline in oil has anything to do with it. We are seeing oil plunge. It's one of its worst days since July 22, as essentially the strikes in the Middle East, Israel all night ran. They avoided the energy facility.

Jim Cramer (1:51)

Right. David posited that somehow there's an algorithm that links lower oil to higher multiple stocks. And I think that's completely factual. I think that there is a sense that the people who wanted to buy these stocks wanted to wait to see. Okay. And by the way, they're selling the sickles. They're selling them. I'm going to assassinate Honeywell pretty soon.

Jeff Marks (2:13)

I mean, maybe you could draw oil down. Maybe you get some lower prices at the pump, which is good for a lot of consumer-related stocks. Right.

Jim Cramer (2:20)

Let's go for Amazon, I guess.

Jeff Marks (2:21)

Amazon. Yeah. I mean, it works both ways for Amazon, right? Not only with maybe more discretionary spending, but also their fuel charges is a big input as well. Very, very big.

Jim Cramer (2:34)

When they're trying to get packages from $2.47 down to $2.40, it sure does help to have a gas leak. Start your day with my outlook on the daily market every morning at 10:20 a.m. Visit cnbc.com/morningtake to access all the benefits of being a CNBC Investing Club member.

SPEAKER_3 (2:57)

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