Jim Cramer Says Apple is “Humming Along, Making a Lot of Money”

Apple Inc. (NASDAQ:AAPL) is one of the stocks Jim Cramer recently looked at. Cramer showed optimism around the company’s stock, as he remarked:

“We’ve seen breathtaking rallies in the data storage stocks. We also have some stocks that simply can’t lift, and I gotta mention them, Apple and NVIDIA. I know you want to know if it’s over for these two members of the Magnificent Seven. I come at it a totally different way. I think both Apple and NVIDIA, the companies, are humming along, making a lot of money. It’s simply that money managers need to sell something old if they want to buy something new, so their stocks become what is known as a source of funds. Do you know it’s a time-honored tradition at the beginning of the year? I’ve seen it happen in January repeatedly over the years. You just have to wait these two out. You’ll know when the selling is done. It’s truly not over yet, or the stocks wouldn’t start rolling over every day from the get-go. And you see it as well as I do. I say, own Apple and own NVIDIA, don’t trade them. Nothing’s changed for me… Are they [the house of pain]? Nah, wrong address.”

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