Cramer's Morning Take: Apple 11/13/23

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Jim Cramer (0:33)

Hey, it's Cramer, and this is my morning take on the market from today's CNBC Investing Club Morning Meeting.

Look, I'm not justifying my homework as being the reason why you'd be an Apple. I'm justifying it as the reason why you wouldn't be a seller of Apple.

Jeff Marks (0:49)

Exactly.

Jim Cramer (0:50)

And that, the virtue of, and this is a very complicated piece with more than 2,000 words, the virtue of what happened with Apple and us, Amazon and us, Alphabet, Meta, is that we weren't shaken out. So therefore, we were able to take advantage of the fact that when the bond market moved, we moved with it. We made a lot of money. Jeff, I compare it at the end to the NFL, where, I mean, Eagles are 8-1. We've had a series of ugly wins, but they're wins.

Like, does it really matter that we were in this, that we were in for the bond market, because when the bond market moved, that's all that mattered. All that mattered was that we didn't react to that first move in Amazon, which was down.

Jeff Marks (1:29)

Right, people sold it, because it was AWS stabilizing, not reaccelerating. Cloud growth was weak in Alphabet, even though Ad was very strong. Apple's outlook, okay, sure, maybe it was a little light. Meta, Q4 Guide, a little wide-range price and spending.

Jim Cramer (1:46)

What we're trying to say is homework matters, because homework is why you are able to be, for the long term, in this stock, in Nvidia, which last year was 150 So what I'm trying to say is, it isn't like, I mean, my wife was saying, Jim, why are you working so hard?

I mean, isn't the thought of the piece that it doesn't matter, that all microeconomics is wrong? And I said, look, I think it matters because I would have been shaken out had I not thought that Apple really did have a good quarter versus what the consensus said.

Jeff Marks (2:20)

Yeah, and I think it all goes back to your own it, don't trade it line in Apple. I mean, you might be able to extend that to other stocks. If you're long-term oriented, there is something to be said about buying and holding versus flipping in and out when KeyBank downgrades Apple to neutral rate.

Jim Cramer (2:38)

Took it down to 176

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