Cramer's Morning Take: Apple Slides 1/2/23

Squawk on the Street

CNBC

Business, Investing, News

4.1 • 567 Ratings

🗓️ 2 January 2024

⏱️ 3 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jim and Jeff discuss Apple shares after Barclays downgraded the member of the Magnificent 7 market leaders basket to an underweight rating. 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

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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
0:06.8	CMEC Investing Club warning meeting.
0:08.5	I wanted to make the point that I still like Apple.
0:12.6	Now, how do you make the point you still like Apple?
0:14.7	By owning a lot of Apple.
0:16.4	Right.
0:17.4	Still the largest name, but we had to take some of it.
0:19.3	Right.
0:20.3	I mean, do I feel like, wow, we dodged this?
0:21.6	No, we have a huge amount of Apple.
0:23.6	And I'm sticking by my belief that Apple is going to be overly inexpensive, but it does
0:30.6	sell for 29 times earnings.
0:31.6	And I don't want to have anyone believe, oh, what he really did, what we did was
0:36.6	disguised that we didn't like
0:38.7	Apple and by selling all these others no we took something off of every single
0:43.4	big winner and people should recognize that when you do that that's called
0:47.2	discipline do you really want to own a stock that you're up a hundred and
0:52.7	ninety four percent and haven't taken a sale.
0:56.0	That is not what I want to be familiar.
0:58.9	I don't want to be,
0:59.5	I don't want to be involved with that.
1:02.0	I think that someone who feels that way is someone who is a permable,
	...

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