Advertisement
UK markets close in 7 hours 6 minutes

  • FTSE 100

    8,235.77
    -18.41 (-0.22%)
     

  • FTSE 250

    20,649.63
    -55.64 (-0.27%)
     

  • AIM

    806.24
    -2.12 (-0.26%)
     

  • GBP/EUR

    1.1773
    +0.0025 (+0.21%)
     

  • GBP/USD

    1.2763
    -0.0001 (-0.01%)
     

  • Bitcoin GBP

    53,066.58
    -95.44 (-0.18%)
     

  • CMC Crypto 200

    1,460.22
    -24.47 (-1.65%)
     

  • S&P 500

    5,306.04
    +1.32 (+0.02%)
     

  • DOW

    38,852.86
    -216.74 (-0.55%)
     

  • CRUDE OIL

    80.49
    +0.66 (+0.83%)
     

  • GOLD FUTURES

    2,352.00
    -4.50 (-0.19%)
     

  • NIKKEI 225

    38,556.87
    -298.50 (-0.77%)
     

  • HANG SENG

    18,477.01
    -344.15 (-1.83%)
     

  • DAX

    18,589.83
    -88.04 (-0.47%)
     

  • CAC 40

    8,003.91
    -53.89 (-0.67%)
     
Money:

What's best?

Should you support your children at university or help them on to property ladder?

Is Apple Inc (AAPL) The Best Jim Cramer Stock to Buy Now?

Attiya Zainib
·2-min read

When Oracle of Omaha Warren Buffett begins to sell your company shares, know that all is not well. Apple Inc’s (NASDAQ:AAPL) stock is losing ground amid lack of growth in iPhone sales and major AI announcements. Apple Inc (NASDAQ:AAPL) is also exposed to geopolitical risks as it’s the biggest customer of Taiwan Semiconductor (Buffett sold his entire stake in the company last year). Apple Inc (NASDAQ:AAPL) accounts for about 25% of TSM’s revenue. Any disruptions following a possible escalation between US and China in the Taiwan region could directly affect Apple Inc (NASDAQ:AAPL).

Recently, KeyBanc Capital Markets said in a report that early data shows iPhone demand in April was “soft.”

However, a positive note recently came from long-term Apple Inc (NASDAQ:AAPL) bull Dan Ives of Wedbush Securities, who said that latest reports suggest that a partnership between Apple and OpenAI is confirmed and the AI “foundation” for iPhone 16 is forming. Ives maintained an Outperform rating on Apple Inc (NASDAQ:AAPL) with a $250 price target.

Jim Cramer has time and again reiterated that Apple Inc (NASDAQ:AAPL) is stock to own for the long term.

ADVERTISEMENT

The London Company Large Cap Strategy stated the following regarding Apple Inc. (NASDAQ:AAPL) in its first quarter 2024 investor letter:

“Reduced: Apple Inc. (NASDAQ:AAPL) – Reduction reflects strong performance in 2023 and resulting elevated valuation. We believe the outlook for AAPL remains strong with slow growth in iPhone (now #1 global market share) and faster growth in the higher margin services business. R&D will continue to drive new products and AAPL now has over 2 billion installed devices around the world. While near term earnings expectations appear reasonable, we felt it was prudent to reduce the position size based on risks to valuation.”

 

Is Apple The Best Jim Cramer Stock to Buy?

Insider Monkey recently published 11 Best Jim Cramer Stocks to Buy Now. While Apple made it to the list, it was not the best Jim Cramer stock based on our in-depth research.   Click to see 5 Best Jim Cramer Stocks Better Than Apple.