Jim Cramer says ‘you can’t sell’ Apple stock on the watch import ban
Every weekday the CNBC Investing Club with Jim Cramer releases the Homestretch audio feature in time for the last hour of trading on Wall Street. Here’s today’s edition. Markets were up Thursday but are off the highs of the morning. Traders should remain on red alert for intraday volatility following Wednesday’s pullback. Many are saying it was due to zero-day option activity . You can blame this or the fact that the market has been very overbought. Either way, the market has had a great run lately and many stocks have made parabolic moves, causing us to grow more cautious in the near term. Shares of Ford are making a nice move Thursday after Morgan Stanley laid out the bull case for 2024. The firm noted that lower interest rates make it easier for consumers to buy big-ticket discretionary purchases like cars. The analysts also cited improved capital allocation decisions like more measured spending on money-losing EVs. This is what we’ve wanted the automaker to do – focus less on EVs and more on its profitable internal combustion engine and hybrid vehicles. We’re disappointed by the Apple Watch import ban on models released earlier this year. Apple has stopped selling some watches on its website because of patent dispute. But, Jim Cramer said, “You can’t sell it,” referring to the dropping Apple stock on the news that the International Trade Commission found Apple Watch’s blood oxygen sensor infringed on intellectual property from a medical technology company that sells to hospitals called Masimo. This only accounts for a small portion of revenue. The company may find a way around this such as ramping up the launch of its Vision Pro headset, set to be released next year. (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Aniket Pujari
6,033 PostsAniket Pujari is a passionate finance and technology enthusiast with a strong academic background in Financial Markets. Since 2015, he has been deeply immersed in the world of cryptocurrencies, blockchain technology, and global financial systems, building a wealth of knowledge and expertise in these rapidly evolving fields.
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