Jim Cramer Reiterates “Own It, Don’t Trade It” on Apple Stock

Apple Inc. (NASDAQ:AAPL) is one of the stocks on Jim Cramer’s radar. Cramer discussed the company in detail while calling its online sales growth “staggering.” He said:

“Apple’s online sales growth has been staggering, more than doubling between 2019 and 2021, thanks to COVID, before seeing it decline in 2023 as the pandemic ended. Last year saw a recovery for Apple’s digital sales, though, and I’m never willing to count this company out because it has such a tremendous long-term track record. Looking at the daily chart, Lang (Bob Lang, founder of explosiveoptions.net and the author of Know Your Options) points out that Apple’s now broken out from its recent price range on higher volume. Most people don’t think it has, but it has, and that’s breathing new life…

While the stock’s still below its 200-day moving average, not through that yet, it’s getting closer and closer to that level, and it’s also closer to filling in the big gap down from early April. That would be monumental. Lang… said Apple has started climbing again because when it makes a move higher, that move tends to last a long time… Apple’s consistent. It’s constantly being plagued by doubters, right? But when it starts running, it really matters.

… And Lang has good reason to believe that this is just beginning… In his view, Apple moves slowly, and if its stock can sustain its newfound positive trajectory, the big money will follow. Apple’s currently a $211 stock, and he sees it will go to $225 before it runs into any resistance. And he wouldn’t be surprised if it can eventually work its way back to its February highs of $250 by the end of the year, which would give you a nice 18% gain from here.

Now, that’s a contrary view as you know. Most people I know think that the wrath of Trump will keep this one down. We still say own it, don’t trade it as it has the best cell phone there is, and as long as customer satisfaction is the most important issue, we will keep our position for the trust.”

A wide view of an Apple store, showing the range of products the company offers.

Apple Inc. (NASDAQ:AAPL) makes smartphones, computers, tablets, and wearables, and also provides services like music, video, games, fitness, news, and payments.

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