Jim Cramer Highlights Apple’s Pullback as an Attractive Entry Level

Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer put under the spotlight. Cramer discussed the stock’s price movement after the company posted its earnings, as he stated:

“Then there’s one more household name we’ll give you, Apple. This stock traded up to $277 after it blew away the quarterly estimate at the end of last month. Today, in the teeth of the sell-off, the stock hit $265. I think that’s a terrific price to start a position in the company that initially, it’s, you know, I think is starting to show signs that its AI business is a really good idea because it’s, someone I think is going to pay them to give them what we’re doing with the different chats.”

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Apple Inc. (NASDAQ:AAPL) designs and sells smartphones, computers, tablets, wearables, and accessories, along with cloud services and support. Moreover, the company provides subscription services, digital content platforms, and payment solutions. Cramer discussed the company during the November 5 episode and said:

“Apple, I think, is going to have a great quarter. So I think that their PE is probably going to be roughly just a little bit above the market multiple. All these companies are actually very big conglomerates… I like the companies for what they have, which is different businesses that are firing all cylinders… In the end, these are the best companies in the world. They’re nation-states with good balance sheets. They’re not momentum plays.”

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Disclosure: None. This article is originally published at Insider Monkey.