CNBC host Jim Cramer has taken aim at investors looking to sell shares of Apple Inc. AAPL following a report that the tech giant plans to slash iPhone SE production.
What Happened: In a series of tweets Tuesday, Cramer said his critics are looking at selling Apple’s shares after Nikkei Asia reported that the Tim Cook-led company plans to cut iPhone SE production by 20% next quarter.
That call to sell Apple and its cohort on the Nikkei story is, right now, percolating among my mentioners as they mull moving in to selling ice cream at the Phillies baseball park, aka The Bank
— Jim Cramer (@jimcramer) March 29, 2022
Cramer said he wants these critics to short shares of the companies he likes – including Apple, Nike Inc. NKE, Qualcomm Inc. QCOM, Mastercard Inc. MA and Walt Disney Co. DIS.
i just want them to short everything i like, including in the last five days, Apple, Nike, Qualcomm, Mastercard and now Disney. Stocks go up best when clowns short them because of something i may-or may not have--said in 2004 https://t.co/pUZdcKVZmJ
— Jim Cramer (@jimcramer) March 29, 2022
i thought we should trade Apple and not own it?
— Jim Cramer (@jimcramer) March 29, 2022
See Also: How To Buy Apple (AAPL) Stock
Why It Matters: Apple’s shares closed higher for the eleventh straight session on Tuesday, marking its longest winning streak in about nine years. The stock also turned positive for the year-to-date period.
Investors largely shrugged off the Nikkei report about the tech giant slashing production of the iPhone SE and AirPods.
Long-time Apple analyst Ming-Chi Kuo separately noted that two China-based manufacturing suppliers of AirPods have publicly denied rumors about Apple cutting orders for the earphones this year.
Price Action: Apple shares closed 1.9% higher in Tuesday’s regular trading session at $178.96, but lost 0.1% in the after-hours session to $178.74, according to data from Benzinga Pro.
Read Next: How Apple Could Benefit From Moving To Hardware Subscription
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