Jim Cramer Believes Apple Is “Going to Keep Flying Higher” In Case of No More War

Apple Inc. (NASDAQ:AAPL) is one of Jim Cramer’s stock calls as he discussed the impact of the Iran war on the markets. Cramer highlighted how the stock fell after false news. He stated:

It happens every day. Someone whispers something bad about tech to me. The story’s always hard to track down. Let me show you what I mean. This morning, I tried frantically to find out what the heck was the matter with the stock of Apple. Stock was falling like a safe thrown out of the Empire State Building, slicing through 1, 2, 3, 4, 5, 6, right down to the 13 points, 13 points. I’d seen a story earlier in the morning from Nikkei Asia that Apple’s foldable phone, expected for this fall, has been delayed. Oh, I dismissed it… didn’t mean anything…

But after chasing and chasing to find the real story, I had to settle on the fact that the Nikkei story about the foldable phone being late was probably the reason for the decline. I told people to start buying the stock when it was down 10. It just didn’t make sense to me that people would sell based on the one outlet’s somewhat dubious claims. Sure enough, at 1:00 PM, Bloomberg ran an officially sanctioned story saying the foldable phone was on time. Turns out Apple was framed. You caught a quick 5-point gain if you’d bought it when I told you to. Even better if you owned it and didn’t bother to trade it. And I gotta tell you, if we think that there’s no war tomorrow, this one’s going to keep flying higher.

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Apple Inc. (NASDAQ:AAPL) manufactures and sells devices such as the iPhone, Mac, iPad, along with its line-up of wearables and accessories. The devices are supported by the company’s app ecosystem, AppleCare, and cloud tools.

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