Despite the rather divisive force that the television host has become in some circles, CNBC’s Jim Cramer has urged investors to buy the dip amid the most recent slide for Apple (APPL). The stock has reversed from the climbing Nasdaq as the iPhone maker has recently stumbled.
The development arrived amid the company’s attempt to reverse a recent iPhone ban in Indonesia. Indeed, Apple has recently sought to increase its investment in the country tenfold, according to Bloomberg. The proposed $100 million bid would look to see the government reverse a ban on the iPhone 16 product.
Also Read: Experts Say Apple (APPL) Could Lead a Looming $25 Billion Business
Cramer Tells Investors to Wait on the Apple Dip: “Bears Are All Over It”
Few companies on the planet are as successful as Apple. Yet, perhaps more impressively, there are few companies that are as set up to succeed in the future as the iPhone developer. Therefore, amid its most recent value slide, many experts are urging investors to keep believing in the company’s stock value.
Among them is Jim Cramer, as the CNBC Mad Money host told investors to ‘buy the dip’ despite the Apple slide reversing from the Nasdaq. On a Tuesday show, he called on traders to keep an eye out for the ongoing bearish perspective the stock is facing. “The bears are all over it every minute of the day,” Cramer said.
Also Read: Apple Keeps Setting Records as Samsung Loses Pivotal Market Share
Over the past month, Apple stock has fallen by 3.58%. However, it has shown some optimistic signs over the last five days—with a 1.48% increase. Still, the past month has seen the Nasdaq Composite increase 1.36%, a conflicting sign for the company’s prospects on Wall Street.
Early this month, Cremer said that Apple stock “should never have been up,” as much as it was following its Q3 earnings report. The company issued a declined projection, which brought more reasonable market expectations, Cramer notes. Still, there is abundant potential in Apple, and reason to believe it will be back on an upswing, attempting to be the first company to reach a $4 trillion market cap.