CNBC Investing Club: Cramer’s Morning Take on Apple 10/20/26

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0:38Fidelity Brokerage Services, LLC. Member NYSE SIPC. Jim Cramer here to share a short preview of my take on the market from today's members-only CNBC Investing Club morning meeting. Join the club for full access to the morning meeting every day at 1020 a.m. Visit CNBC.com slash morning take to sign up today. That's one word, morning take. You mentioned the Apple downgrade earlier. This was the hold at Loop Capital. They lowered the price target to 330. Wow, I've heard of Loop Capital. It's a dreaded supply chain check where they see reduced iPhone unit shipments for the September and December quarter not getting made up in 2027.

1:21No, because everyone wants a Duo and the 18 is a little expensive unless you buy it. I have the 18. You need the 18 for a great camera. That's what it's really terrific about. They have the 18, but they also have the Duo. They have the Home. They have a lot of products. Look, this is totally... Okay, so look at this. I bought Apple at five. That's when I first bought it. At five. Do you know how many times I've heard downgrades because of channel checks. So the simple question is who's right? Is 5 to 341 better than 343 to 341? Well, if you're at a hedge fund, the answer is the latter's better.

2:00I believe that was the genesis of own it, don't trade it, right? To own it through noise where you see these supply chain checks and you don't want to give up on such a great company because of whatever some analyst is hearing. No, that's not how you invest. It's not how you invest. I look at, look, we have COF tonight, Capital One. I look at MasterCard and I say, okay, we made a big investment in Capital One because of Richard Fairbank. But MasterCard's better. We are betting that if they don't unlock value, I would tell you that MasterCard is better than what we own. and it's beginning to rankle me.

2:43And I'm not sure exactly what to do because MasterCard has now gotten away. But I mean, this is the kind of thing, it's only up 8 % for the year, but it's an incredible company. There's no credit risk. And this is what, you know, this plagues me. It plagues me because I say, like, I could have MasterCard, but I was banking on Richard Fairbank to integrate Discover and do something. Yeah. Well, you know, credit should be fine just based off what we saw from the big banks last week. But as has been the question for multiple quarters is, how aggressively are they investing in a lot of these deals, which increases expenses, and that has limited some of the big EPS upside that we saw last year with Capital One.

3:25So just something to watch after the bell tonight. All opinions expressed by Jim Cramer on this podcast and in connection with the CNBC Investing Club are solely Cramer's opinions and do not reflect the opinions of CNBC or its parent company or affiliates, and may have been previously disseminated by Kramer on television, radio, internet, or another medium. No specific outcome or profit is guaranteed in connection with your reliance upon or other use of the content from Kramer. The opinions offered in connection with this podcast and the CNBC Investing Club are not an attempt to induce any particular trading behavior, investment, or strategy.

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