Cramer's Morning Take: “Negative” market & Apple 9/8/23

SPEAKER_1 (0:00)

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Jim Cramer (0:33)

I'm Jim Cramer, and you're about to hear a sample taken directly from today's CNBC Investing Club morning meeting.

You can talk yourself into a negative market. Now we've been, the market's been horrendous.

Jeff Marks (0:46)

For the last few days.

Jim Cramer (0:47)

Yeah, horrendous. But I do think as we come down, I'm seeing markets. I'm seeing things, and I'm not necessarily Apple, but I'm just talking about the notion of things aren't fully important, but stocks are.

And I like, I mean, look, if Apple does well, or if there's no real problem, I broke up. You know what I mean? I'm saying that there are buys being created by this decline, that's all I'm saying.

Jeff Marks (1:10)

And I think the stabilization in Apple today is key to the market today, given how big it is of a weighting in the S&P 500

So good to see that. Treasure yields are a little bit lower today, and that certainly helps as well. I think Apple's worth going into maybe more.

Jim Cramer (1:26)

Four and a half has been my view. We gotta be a four and a half, but oil's gotta go down. Now I do want common oil, because we don't want the news story to be the consumer.

Jeff Marks (1:34)

Well, it's inflationary.

Jim Cramer (1:35)

Right, and Kroger talked about it this morning, though Kroger people turned the stock trader around, decent numbers.

Look, I think anything that says inflationary means two more hikes, and two more hikes mean you're starting to flirt with six.

If you go back to right before the Great Recession, this is where you were. One of the things I learned a long time ago, Jeff, you can't keep selling on the same thing. So you come in today and you say, well, hold it, I've been selling apple, all right? Well, wait a second, apple's not up. Well, I'll just keep selling it, because there's a momentum to selling. So I don't want anyone to look at the market right now and say, this is what it's gonna be like doing here, two o'clock, but I just think that there's lots of people who wanna get out.

Jeff Marks (2:15)

Well, there's a shoot first, ask questions later, ask back to as well, and let's put up apple. So it was down 6% over the last two days, again, up today. You have Morgan Stanley trying to estimate what would be this true impact of a ban of Huawei regaining its presence in China. They say that if Apple seats all of the share that it gained in 2019, since 2019, when a lot of restrictions were placed on Huawei, it'd be about a 4% hit on revenue, a 3% hit on earnings per share, so about $0.20 to earnings. So that's pretty manageable, given how much, given a 6% decline over the last two days. With a 30p stock, $0.20 per share, you're talking about a $0.60 decline.

Jim Cramer (3:01)

I was working out today and I said to myself, do you think that Tim Cook doesn't have a game plan? I mean, they've had a long time relationship with China.

Jeff Marks (3:09)

$6.00 to find a deal. So I was just correcting myself.

Jim Cramer (3:13)

Tim Cook, he's not just riding around saying, boy, I sure hope that China doesn't cut us off. I mean, it's got a game plan for a lot of different things.

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SPEAKER_4 (3:40)

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