Jim Cramer Warns Apple Stock Should Have 'Never Been Up That Much' After Q3 Earnings Even As This Analyst Defends iPhone 16 Launch
Portfolio Pulse from Ananya Gairola
Jim Cramer suggests that Apple's stock was overvalued following its Q3 earnings, despite a strong iPhone 16 launch defended by analyst Dan Ives. Apple's Q4 revenue and earnings exceeded expectations, but forecast cuts and aggressive pricing strategies in China have impacted its stock price.
November 01, 2024 | 10:08 am
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Apple's stock was considered overvalued by Jim Cramer after Q3 earnings, despite strong iPhone 16 launch. Analyst Dan Ives remains optimistic about future performance. Apple's Q4 results exceeded expectations, but forecast cuts and China pricing strategies have impacted stock price.
Jim Cramer's comments suggest that Apple's stock was overvalued, which could lead to a short-term negative impact on the stock price. Despite strong Q4 results and a successful iPhone 16 launch, forecast cuts and aggressive pricing strategies in China have created uncertainty. Analyst Dan Ives' optimism provides some positive outlook, but the immediate market reaction has been negative, as seen in the stock's recent decline.
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IMPORTANCE 80
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