Apple Inc. (NASDAQ:AAPL) was among the stocks Jim Cramer discussed on Mad Money, along with the recent sell-off in the market.
Cramer believes “Siri’s going to get smart,” as he stated: For now, let’s just say you’re looking at a market that’s hostage to interest rates and high oil, coupled with a monster amount of new stock offering and new stock coming through the pipeline that can’t be bought unless investors sell something else
In order to do this, you gotta [sell, sell, sell]… And boy, are people doing it. So we’re in… a toxic stew. But then we have to say to yourself, because that’s real gloomy, is it bad for everybody?
And the answer is, as is often the case, no, it’s not. For instance, it’s not bad for Apple, which not only doesn’t need to raise tens of billions of dollars for its AI ambitions, it’s actually piggybacking off of Alphabet and getting them to pay for the piggyback. That’s what happens when you have more than 2.5 billion active devices, and your audience is too juicy for a competitive chatbot to pass up.