Jim Cramer Says Apple Stock Short-Term Prospects Is 'Not A Table Pounder'

The ongoing turbulence in Apple Inc’s AAPL China market is making investors like Jim Cramer skeptical about the short-term prospects of the tech giant.

What Happened: Cramer, the host of CNBC’s “Mad Money,” took to X on Tuesday to share his thoughts on Apple’s near-term outlook. He expressed hesitance about the current situation and indicated a need for stock prices to drop significantly before considering a position rebuild.

He wrote, “Club members know our stance on the near-term with Apple. It is not a table pounder. I want stocks to come into well below where they are if we are going to re-build a position.”

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Why It Matters: Cramer’s comment comes in the wake of Apple’s concerning performance in China. He expressed serious concern about Apple’s future in China, especially after the company witnessed a 24% drop in iPhone sales during the first six weeks of 2024. He suggested that “nothing good is going to come of China” for Apple in the near term.

Meanwhile, other analysts like Gene Munster have a more optimistic view. Munster believes that Apple’s AI play, first mentioned by CEO Tim Cook during the shareholder meeting in January, could significantly impact Cupertino’s earnings, potentially increasing them by double-digit percentages. Munster also predicted that Apple’s AI could result in a $33 billion annual opportunity for the company.

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