CNBC’s Jim Cramer is a well known Apple bull. Indeed, his charitable trust owns shares of Apple, Facebook, Amazon and Google’s parent company Alphabet. Last night he pursued this line – even encouraging investors to buy shares despite the difficulties faced by Apple stock in particular. A news report on the CNBC website focuses on the Mad Money presenter’s criticism of analysts who have been downgrading Apple since its earnings call on 1 November. He believes that they are overlooking the possibility that Apple may actually have anticipated some weakness in sales prior to the earnings. Cramer’s comments on what on what he refers to as the FANG stongs – Facebook, Amazon, Netflix and Google (Alphabet), might also be worth a read for anyone trying to work out what is going on with big tech stocks right now. Here’s some of what he had to say:
“What do you think of the possibility that Apple knew all about the weaknesses in unit sales that are now so revelatory?” he asked, pointing to reports that Apple may have tapered its orders from a key supplier. “CFO Luca Maestri even alluded to that weakness when he told us the guidance accounts for ‘uncertainty around the supply and demand balance’ of recently launched products.”
Check It Out: Cramer: This Could be the Time to Buy Apple Stock