Jim Cramer Remembers COVID-19 & Discusses These 11 Stocks

1. Apple Inc. (NASDAQ:AAPL)

Number of Hedge Fund Holders In Q4 2024: 166

Apple Inc. (NASDAQ:AAPL) is the world’s largest technology company. Its heft and stable product demand make the stock one of the few in the technology industry that exhibits defensive traits during a time of crisis. Cramer has long maintained that he recommends owning and not trading Apple Inc. (NASDAQ:AAPL)’s shares. This time around, he commented on the firm’s February iPhone launch and maintained his sentiment of holding the stock:

“What I love and I talked about this with Tim Cook, is that he, I said are you getting away from the, okay we got the fifteen, and we got the sixteen, got the seventeen. And you know, he pondered it, he said well you know, we’re trying to, we want to issue product when we have product. That’s very different. The street. That gives me a higher multiple. David yesterday was saying maybe the multiple’s too high, but now we have a company in Apple that doesn’t, it isn’t just constrained by when they drop one, and I then asked Tim about how much of it is software additions and he said, look, just keep in mind, when we have something, we now bring it. And the fact is that they’ve got a continual source of new products. And so therefore it doesn’t deserve to have a 22 multiple. It deserves to have a higher multiple. So I think the stock is correctly valued. It did drop down to 220 when we had a series of sells put on somewhat related to China. And they turnout to have Alibaba as a partner? Do people understand that Alibaba’s now in with the government? So you want to be with them.”

“We do have a new CFO. Luca’s moved on . . .I continue to say Apple, own it, don’t trade it, list. Not being facetious, just saying how you do it. And I said look, I can’t do it with too many companies, I have a meeting tomorrow, club meeting. Because then you get trapped.”

AAPL is a stock Jim Cramer recently discussed. While we acknowledge the potential of AAPL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AAPL but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure. None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and investors. Please subscribe to our daily free newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.