Cramer’s Morning Take: Apple 6/10/25

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Jim Cramer (1:01)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting.

SPEAKER_2 (1:08)

We did have Apple's WWDC conference, yesterday Worldwide Developers Conference, nothing really game changing as we thought, just a lot of design improvements.

Jim Cramer (1:17)

I'm gonna take the other side of that. I think that if you look at it, it's probably going to look a little better, a little different, but you're not going to switch to another provider. If you want to upgrade, I think you'll go to the 17 The stock's down very badly. I do think that the downgrades are late. I know that there are really some great short sellers there. I think you could go down as low as 190, but I think that's about it. I thought it would be down one.

SPEAKER_2 (1:48)

Yeah, I know you keep bringing up the point, too. Maybe they should go out and buy one of these large language models like Perplexity, get that integrated into the phone.

Jim Cramer (1:56)

Well, I'm starting to get very skeptical about the buyback. I'm getting skeptical about the buyback. What's it doing? I mean, look, you have a buyback. You keep buying back stock. The stock's down 20%. Why don't you do something with the cap?

SPEAKER_2 (2:07)

So it's a better use of capital.

Jim Cramer (2:09)

Yeah, I'm questioning the capital allocation. That's the only question.

SPEAKER_2 (2:12)

Yeah. No, I think it's fair. Certainly, AI is thought about of what we really need to see, a better enhancement there in order to get people to upgrade their phones. They did mention Siri. Totally do. In the coming year, they said, we'll see what that means later.

Jim Cramer (2:28)

But this is a major focus for me because everyone's written the stock off. Now, the short seller I deal with, I don't talk to short sellers, but I happen to be short, was giving me, look, don't forget, it's overvalued on multiple basis, say 25 I don't forget that there's going to be a pull-through and people are going to ignore that. And I said, wait a second, people aren't going to ignore a pull-through. They're going to say, wow, they're doing well. So just beware. I think there's 10 points downside and that's really about it. Join the CNBC Investing Club with Jim Cramer to catch my member exclusive warning minis every day at 10, 20 a.m. Visit cnbc.com/morningtake to become a member today. That's one word, morning take.

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