Cramer's Morning Take: Apple 9/7/23
Squawk on the Street
CNBC
4.1 • 567 Ratings
🗓️ 7 September 2023
⏱️ 4 minutes
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| 0:00.0 | Jim Kramer here to share with you a sample of my take on the market from today's CMBC Investing Club morning meeting. Let to get right to what I think is most important. I've been trying to source all morning on Apple. Right. Because you know how I feel, which is to own Apple, don't trade it. Sure. And a lot of times you get rumors. And when you saw a story in the journal that was then amplified by Bloomberg, but I have social media contacts in China, also I wouldn't be so bullish on Apple. |
| 0:26.3 | Okay. And here's where we have, China mobiles refuting, there's a state on China news |
| 0:30.8 | service reported on WIBO, the WIBO official, that China mobiles refuted the rumor about |
| 0:36.4 | suspending iPhone sales. I have pictures |
| 0:38.8 | from some movies from major iPhone stores versus a Huawei store that is just empty. |
| 0:44.3 | I'm going to mispronounce this town, which is Hang Zal. And I have to tell you, when I see, |
| 0:50.3 | when I source it, I don't get what the stories are. I get the opposite. So I'm sticking by |
| 0:55.9 | Owen and Don't trade. Yeah. Well, that's interesting because you have these stories saying that |
| 0:59.5 | Chinese are blocking the use of iPhone, phones for government use, but you also have Huawei |
| 1:06.5 | re-entering the 5G market. Maybe there's a push to go back to, you know, the national |
| 1:15.1 | phone player. But that seems to go against that. I mean, to me, Huawei is, you know, go on |
| 1:22.1 | an inferior phone. I don't know how many people in the government actually had Apple phones. Apple's |
| 1:26.2 | not been the dominant player, but the Apple stores I know are filled. |
| 1:29.3 | And you know if it's a dictatorship of the so-called proletariat, |
| 1:33.3 | you do not have people lined up in a store because it would be too dangerous. |
| 1:38.3 | So I'm reiterating that I don't feel like this is something that we should sell Apple on. And by the way, let's just understand it. If I really felt there was a disaster coming Apple, I would suspend, oh, don't trade. I was going to ask you, because you put in your morning note this morning that goes out every morning, attest to the own don't trade a thesis. People come into me this morning and say, listen, are you going to, is it, is this it? |
| 2:01.4 | Are you going to back, you know, are you going to bag Apple? And I'm like, no. I mean, I'm going to do more work. Yeah. Because you see, what's happened time and again is the stock will break. People say it's the chart, whatever. And then you'll go do the work and you'll find out, darn it all. It turned out to be not as significant. |
| 2:18.0 | It turned out that Apple's the largest employer. |
| 2:20.0 | It turns out to be not as significant. It turned |
| 2:18.4 | out that Apple's the largest employer. It turns out that Apple has a decent relationship. It turns out |
| 2:23.4 | that the government was saber-rattling after Jenny Romando comes on our show on mad money and goes, |
| 2:29.4 | my patience is thin. I'm done with these guys. They employ a lot of people. Largest, |
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