Cramer's Morning Take: Apple 10/3/25

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Jim Cramer (1:03)

I'm Jim Cramer and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting. I'll tell you what doesn't need to cut is Apple. Now, given we're oversold, I would not have made Jeffrey's call on Hold to Sell that this man is a trader. And it's very interesting because philosophically, an analyst who's a trader can be very right for people who are hedge funds, like I would listen to this guy who's a hedge fund manager.

Jeff Marks (1:31)

He's timed it well. I think you've got to give him some credit on that. So this is Jeffrey's ago to underperform from Hold.

SPEAKER_4 (1:36)

He's been right.

Jeff Marks (1:37)

He's had five different rating changes this year. And they've actually come at pretty decent times and some flexion points in the stock.

Jim Cramer (1:44)

The issue here is that what's good for people who are hedge funds may not be good for people who are holders, who are retail. And that's why I've been saying Hold don't trade with Apple because what will happen is you'll sell it, but you might not get back in. So then you missed the big move.

Jeff Marks (2:05)

Yeah. And you're probably paying taxes on every sale. So that's always a consideration for the trust. The capital gains get donated to charity every year. So a little bit of a different story here. But they downgraded the stock because they say demand for the 17, better demand, maybe already in the price. They're looking out to the 18 when we're supposed to have a foldable phone. They think expectations may be a little bit too high. I don't know how you can already call that this early, but that's their call.

Jim Cramer (2:35)

Yes. And look, I want to emphasize to people that what happens is that this fellow talks about tariffs and stuff. But the main reason why you buy phones is to switch from T-Mobile to…

Jeff Marks (2:48)

Switch carriers.

Jim Cramer (2:49)

Yes, switch carriers from T-Mobile to Verizon, whatever. And the price that you pay is very little. It's been the same versus… because the trade…

Jeff Marks (2:57)

Yeah, they give you a free upgrade if you signed a multi-year contract. Something like that.

Jim Cramer (3:04)

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