Cramer's Morning Take: Apple 3/22/24

Jim Cramer (0:01)

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

It's been an amazing week, S&P up over 2%. A lot of our stock is doing really great. We haven't highlighted broad coming up, frankly.

Yields coming in, they've been very good since the Fed meeting, even though there's been obviously some renewed kind of international trade, because some of the numbers have been better worldwide. More on that in a second when we get to FedEx. But I want to cut right to Apple, because I know a lot of members are asking questions of me about why I still like this company, even though it is a no growth company. I want to point out two things. I want to point out, first of all, I was very surprised, now that I've read the Justice Department suit, how frankly lacking and rigoured it is. I'm not saying it's a joke, but I am saying it does have the appearance of a rush job, and it's very disappointing. But more importantly, if Apple were to come to terms with Nvidia and talk about B2B, and I know they don't work like this as quickly, people would realise this is a product that should have more than 200,000 or whatever they're making. It should be more like 2 million, and the $3,500 price point means nothing to a company like Azimans, or a company like a Ford Motor that should buy it in order to be able to sell cars, in order to be able to build a factory twin. So I think the most important takeaway for me about why you should hold Apple right here is not that I want all these different people to get out of it, the people who are owning right now and are worried about justice get out of it, because we won't be talking about justice next week, it doesn't work like that, is that there are business to business applications to the Vision Pro, and they've got to embrace it, and that would make it so that the narrative would change.

Jeff Marks (1:43)

So, you know, the narrative around Vision Pro, perhaps even AI as we get, as we start to learn more information about integrating these large language models into new phones potentially later this year, would these be reasons why to own it versus say some other, I'll call them purer plays on AI that may be growing, you know, double digits if not more this year versus Apple, which is more perceived as a low single digit grower?

Jim Cramer (2:11)

It's such a great question. I said last night, the light around, maybe got to go back and look at AMD. I know it's moved substantially, but the market is so big that it's only a matter of time before we see AMD in the personal computer. This will be the AI personal computer, which of course was introduced somehow as the Microsoft computer. That was disappointing.

But it also makes me feel, by the way, the Best Buy big refresh strategy coming out because of AI personal computer. But it is AMD that I think even though it's moved up a great deal, it does have the right chips. It just needs to have the software that you can do more inference on, the learning software. But I have to look at it, Jeff. I have to go back. Even though I know there's been 70 points that it's moved up just because when I see what's happened with Broadcom and obviously we see what happens in Nvidia, AMD is too important in this food chain to be able to be ignored.

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SPEAKER_3 (3:16)

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