Cramer Regrets Not Having More Faith In Apple

Heading into Apple Inc.'s (NASDAQ: AAPL) earnings report on Tuesday afternoon, CNBC's Jim Cramer said he was concerned the iPhone maker would fail in giving investors a strong enough beat to warrant continued upside in the stock.

Benzinga · 01/29/2020 15:36

Heading into Apple Inc.'s (NASDAQ: AAPL) earnings report on Tuesday afternoon, CNBC's Jim Cramer said he was concerned the iPhone maker would fail in giving investors a strong enough beat to warrant continued upside in the stock.

Apple's stock already rewarded investors with a 30% gain since October, which had some worried it will fall short in the first-quarter report, Cramer said on "Mad Money." However, Apple reported a "monster" top- and bottom-line beat on top of "phenomenal" iPhone and AirPod sales and continued momentum in the Services business.

"Well, maybe I should've had even more faith in a company that I always do," Cramer said.

Why It's Important For Apple Investors

Apple's management offered investors a bullish outlook which was perhaps more important than a strong performance in the holiday quarter, Cramer said. Management's commentary on China forced a widening of the estimate range, unlike Starbucks Corporation (NASDAQ: SBUX) who "couldn't give an outlook on China."

Cramer consistently maintained a view over the years that investors need to own Apple's stock instead of trying to trade in and out of a position. Nothing has changed exiting Tuesday's report, Cramer said.

Apple's stock traded around $325 per share at time of publication, up 2.3% on the day.

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