Cramer's Morning Take: Warren Buffett & Apple 5/8/23

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.

I wasn't going to say it, because I watched the whole thing, but Buffett was a treat this weekend, and I learned a lot, and I know that people say, well, what can a 92-year-old, wise and man teach you? And the answer is a ton, particularly when it came to bad bank behavior, and that what was really at stake here is that bankers who did badly, not the fact that there's a problem with banks in general.

Jeff Marks (0:33)

Yeah, the Buffett broadcast was great. I actually caught a lot of it too, just so many good wisdoms, especially if you're just starting out to investing or just regular life lessons as well.

I thought most notable his comments about Apple, very insightful, a better business than anything that they own.

Jim Cramer (0:50)

What a mistake he said it was when he sold a little.

Jeff Marks (0:53)

Yeah. It doesn't seem like he's going to go after Oxy, but still really likes business, still bullish, I think, on oil over the immediate term.

Jim Cramer (1:02)

Yeah. That made me think that we're good with Pioneer and we're good with, by the way, Cotara had one of the best quarters of any of the companies we own.

Jeff Marks (1:09)

Yeah. Cotara reported last Thursday night, but it was a great broadcast overall. I really enjoyed it.

Jim Cramer (1:15)

I would tell you that one of the things that he said about Apple, aside from the fact that someone would get rid of a second car before they get rid of Apple, was that he had felt that if he could have bought more Apple, he'd like to buy 100% of Apple. Which is really perfect news, because I think what he's saying is that they're going to do buyback, so his stake will increase. And then they go in and do a big bond deal, so they will be buying more stocks. So it's very positive, very bullish on Apple.

Jeff Marks (1:42)

Yeah, $90 billion authorization that they increased last week was the announcement, plus an increase to the dividend as well. So it's just a steady share buyback story, dividend, plus you're getting really good emerging market growth right now, whether it be India or some other country.

Jim Cramer (1:57)

Brazil, Turkey, Indonesia, Malaysia, these all add up, if you include India, to almost $2.3 billion. Now, if you go to see how many people Facebook has, it's $2.9 billion. So the synergy is there's $600 million that are basically in Samsung's world. So keep that in mind.

Start your day with my out look on the market every morning. Visit cnbc.com/morningtake to become a CNBC Investing Club member at a special rate today.

SPEAKER_3 (2:34)

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