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Squawk on the Street

Cramer's Morning Take: Apple 6/7/24

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 7 June 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

Jim and Jeff discuss Apple's big tech event. Become a CNBC Investing Club member to go behind the scenes with Jim Cramer and Jeff Marks as they talk candidly about the market’s biggest headlines. Signup here: cnbc.com/morningtake CNBC Investing Club Disclaimer

Transcript

Click on a timestamp to play from that location

0:00.0

I'm Jim Kramer, and you're about to hear a sample taken directly from today's CBC Investing Club

0:07.6

morning meeting.

0:08.4

Other events happening Monday.

0:09.4

You also have the Nvidia stock split, 10 for one.

0:11.8

I know yesterday the stock was lower on some antitrust concerns.

0:14.6

It's very, now that was a canard, okay?

0:17.1

A lot of people were selling data, they were selling Eaton, Averted.

0:20.0

That whole data infrastructure build out play, Eat In inverted. That was a belief that Justice Department can slow them down. Yeah. And that was a total misread. The Justice Department is trying to figure out what NVIDIA is doing to stop and frustrating competition. And the answer is nothing. So it's not a nothing burger. They can spend a lot of money in time and waste Jensen's time.

0:40.3

But that's all it is, wasting Jensen's.

0:42.3

And Apple's worldwide developers conference?

0:44.3

Now, how about that?

0:45.3

Yeah, a lot of anticipation into the event.

0:47.3

I want people to understand that Apple is not, what you're going to hear are what people are doing to write code and develop

0:58.0

companies that use Apple products.

1:00.8

Hence why they typically sell off after this.

1:03.2

So I do not encourage, you know, own Apple, don't trade it.

1:06.3

I do not encourage buying Apple today ahead of this conference.

1:08.7

Yeah, it's interesting because Bernstein, Tony Sakackeneggi, he did, he pulled some data

1:12.5

around how Apple historically trades around WWDC.

1:15.4

It's usually a non-event.

1:16.4

If you look from 2014 to 2023 on average, it actually was down 0.1% after in the days

1:23.0

after event, it's been a little bit better.

...

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