Cramer's Morning Take: Apple 9/7/23

SPEAKER_1 (0:00)

What's on the horizon for financial markets?

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Jim Cramer (0:33)

Jim Cramer here to share with you a sample of my take on the market from today's CNBC Investing Club morning meeting. Let me get right to what I think is most important. I've been trying to source all morning on Apple. Right. Because you know how I feel, which is to own Apple, don't trade it. Sure. And a lot of times you get rumors, and when you saw a story in the journal that was then amplified by Bloomberg, but I have social media contacts in China, or else I wouldn't be so bullish on Apple. Okay. And here's where we have China Mobile's refuting, there's a state on China News Service reported on Weibo, the W-I-B-O official, that China Mobile's refuted the rumor about suspending iPhone sales.

I have pictures from some movies from major iPhone stores, versus a Huawei store that is just empty. They said, I'm gonna mispronounce this town, which is Hangzhou.

And I have to tell you, when I source it, I don't get what the stories are. I get the opposite. So I'm sticking by, oh, and it don't trade.

SPEAKER_4 (1:27)

Yeah, well, that's interesting, because you have these stories saying that Chinese, they're blocking the use of iPhone, phones for government use, but you also have Huawei re-entering the 5G market. Maybe there's a push to go back to the national phone player, but that seems to go against that.

Jim Cramer (1:52)

To me, Huawei is a go-on for your phone. I don't know how many people in the government actually had Apple phones. Apple's not been the dominant player, but the Apple stores I know are filled, and you know if it's a dictatorship of the so-called proletariat, you do not have people lined up in a store, because it would be too dangerous. So I'm reiterating that I don't feel like this is something that we should sell Apple on. And by the way, let's just understand, if I really felt there was a disaster coming Apple, I would suspend, oh, don't trade.

SPEAKER_4 (2:21)

I was going to ask you, because you put in your morning note this morning that goes out every morning, a test to the own, don't trade it.

Jim Cramer (2:28)

Well, because people come in to me this morning and say, listen, is this it? Are you going to back Apple?

And I'm like, no, I mean, I'm going to do more work.

Because you see what's happened time and again is the stock will break, people say it's the chart, whatever. And then you go do the work and you find out, darn it all.

It turned out to be not as significant. It turned out that Apple's the largest employer. It turns out that Apple has a decent relationship. Turns out that the government was saber rattling after Jenny Raimondo comes on our show, or may have money and goes, my patience is thin, I'm done with these guys.

SPEAKER_4 (3:02)

They employ a lot of people over there.

Jim Cramer (3:04)

Largest, largest, complex largest. And don't forget, you have Modi, where they have a really good relationship, saying, listen, why don't you just build all your phones here?

SPEAKER_4 (3:12)

And that's North Vietnam. This is India that we're talking about now.

Jim Cramer (3:15)

Yeah, now quality of North Vietnam and quality of India has always been debated. But you know what? You can fix quality. I mean, it was always debated that US had worst cars in Japan, but it used to be that Japan had worst cars in the United States. So let's remember that industrialization is fungible.

SPEAKER_4 (3:30)

Yeah, and I always think of Own It, Don't Trade It around events too. So next week is their hardware launch event.

This is September 12th. Gonna get the iPhone 15, maybe some new Apple watch models, hearing some potentially new AirPods as well. But I always think of it, these events tend not to be catalyst events. So that's kind of why you don't try and trade around it. You just own it, really.

Jim Cramer (3:54)

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SPEAKER_5 (4:11)

All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC, NBC Universal or their parent company or affiliates and may have been previously disseminated by Cramer on television, radio, internet or another medium.