Cramer's Morning Take: Apple Slides 1/2/23

SPEAKER_1 (0:00)

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Jim Cramer (0:30)

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

I wanted to make the point that I still like apple. Now how do you make the point you still like apple? By owning a lot of apple.

Jeff Marks (0:45)

Right, still the largest name, but we had to take some.

Jim Cramer (0:48)

Right, I mean do I feel like wow, we dodged this? No, we have a huge amount of apple.

And I'm sticking by my belief that apple is going to be only inexpensive, but it does sell for $29,

And I don't want to have anyone believe, oh, what he really did, what we did, was disguise that we didn't like apple by selling one of these others. No, we took something off of every single big winner and people should recognize that when you do that, that's called discipline. Do you really want to own a stock that you're up 194% and haven't taken a sale? That is not what I want to be familiar with. I don't want to be involved with that. I think that someone who feels that way is someone who is a permable, of which it does not pay, any more than it pays to be a permit bear, like some of the people who might now discredit because they never got positive last year.

Jeff Marks (1:44)

Absolutely. Well, I know there was a new bear on Apple today, Barclays. They go to underweight, saying iPhone 15, not so great, China is worsening, developed markets soft, emerging markets not enough to offset that. 16, probably not going to see much either.

I mean, you can see that there's obviously the bear case. It was the same bear case throughout the rally last year.

Jim Cramer (2:07)

Well, I mean, I think somebody could say, well, listen, it's down 6 already.

The damage is done. Why don't you, you know, a trader would already be buying. No, I don't care. When you do these trims, you're not going to be price sensitive. You're making a judgment that the trim is important wherever it is. Not that like, oh, darn it, I didn't catch 189, I didn't catch 192 It is an incremental sale and the rest can bounce back. And I do think that by the end of this quarter, it wouldn't surprise me if these started coming back. In the interim, I see the best percentage opportunities from other part of our portfolio, and I'm always looking for new names.

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SPEAKER_1 (3:52)

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Imagine your future differently at capella.edu. Capella University is accredited by the Higher Learning Commission. Learn more at capella.edu/accreditation.