“Mad Money” host Jim Cramer pointed out the disproportionate coverage of Apple Inc. AAPL “losing leadership” compared to Alphabet Inc.’s GOOG GOOGL Google and Microsoft Corp. MSFT post their “spectacular quarters.”
What Happened: On Friday, Cramer took to X, formerly Twitter, to express his observation. He noted the abundance of articles discussing Apple’s recent struggles with antitrust regulations and its latest product, Vision Pro, while Google and Microsoft’s remarkable quarterly results barely made the news.
His post came after Alphabet and Microsoft released their earnings reports, both of which exceeded analyst expectations, while Apple’s iPhone sales in China plunged.
“There are hundreds of articles about Apple losing leadership but Google and Microsoft can barely buy an inch of ink after some spectacular quarters…”
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Apple’s iPhone sales in China nosedived 19.1% in the first three months of 2024, with its market share witnessing a significant decline to 15.7% from 19.7% a year ago, according to data from Counterpoint Research.
This is Apple’s worst performance since 2020, largely due to the impact of Huawei Technologies Co.'s new product launches in the premium segment. Huawei's sales surged by 70% in the same period.
Why It Matters: Wall Street is eagerly anticipating Apple’s upcoming Q2 earnings report, with analysts highlighting the stock’s promising outlook. Meanwhile, Microsoft and Alphabet have already reported impressive Q3 and Q1 earnings, respectively, beating both top and bottom-line estimates for five consecutive quarters.
Price Action: On Thursday, Apple closed at $169.89, Alphabet Inc. at $157.95, and Microsoft at $399.04, as per Benzinga Pro.
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