Jim Cramer, the host of “Mad Money,” has offered his perspective on the current state of Apple Inc. AAPL as its stock faces a decline amid a rising Nasdaq index.
What Happened: Cramer stressed the importance of holding onto Apple shares rather than engaging in frequent trading, CNBC reported on Tuesday.
Cramer advised investors to wait for a dip in Apple’s stock price, pointing out the prevailing bearish sentiment. He remarked, “The bears are all over it every minute of the day,” urging caution before making any investment decisions.
His comments come at a time when Apple shares are under pressure despite the Nasdaq index, known for its tech-heavy composition, experiencing gains.
As per Benzinga Pro, Apple stock has dropped by 3.58% in the past month while the past five days have been slightly better with an increase of 1.48%, as of Tuesday. Meanwhile, the Nasdaq Composite has increased by 1.36% in the past month but dropped 2.58% in the past five days.
Why It Matters: Cramer’s recent comments follow his earlier warning that Apple’s stock “should never have been up that much” after the company’s Q3 earnings report. This cautionary note came after Apple issued a lowered financial forecast, which Cramer suggested had been absorbed by the market, bringing expectations to a more reasonable level. Despite this, Dan Ives defended Apple’s strong iPhone 16 launch, indicating mixed sentiments around the company’s performance.
Additionally, a recent surge in options activity for Apple has been observed, with investors taking a bullish stance on the stock.
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