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Google's parent company Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) reported first-quarter results Monday that show the company is getting "sloppy," according to CNBC's Jim Cramer.
In contrast, Apple, Inc. (NASDAQ:AAPL)'s second-quarter report shows a "major source of weakness" has now turned around, Cramer said.
Alphabet: 'Bad Things' Need To Be Said
Alphabet's first-quarter print fell short of expectations across multiple key metrics that the company failed to acknowledge, Cramer said during his "Mad Money" show Tuesday. All Alphabet had to do was explain what went wrong in the quarter and what steps it will take to fix any outstanding problems, he said.
"After this quarter I feel compelled to say a bunch of bad things about a company I like a great deal," the CNBC host said.
If Alphabet would have said something to the effect that it refuses to allow lost market share in key categories to stand, shares may have not ended Tuesday's session lower by nearly 8 percent, Cramer said. Instead, the company appears to be "constitutionally incapable of admitting that they let anybody down."
Alphabet offered zero answers to pertinent questions as to what happened in the quarter, he said.
Cramer's thesis is that Alphabet's "sloppy execution [and] bad salesmanship" have resulted in "hungrier, more-savvy competitors" gaining at its expense.
Apple: Bullish Surprise
Apple not only delivered a top-and bottom-line beat in its fiscal second-quarter report Tuesday, but signaled that weakness in China is now "turning around," the "Mad Money" host also said Tuesday.
Cramer said he was "surprised how bullish" Apple CEO Tim Cook was on the company's operations in China — a source of concern earlier in 2019.
Apple's report did show a 17-percent decline in iPhone sales, but at the same time services and wearable products performed well, Cramer said.
Street analysts will soon better appreciate that the "lifetime value of the service stream" from an iPhone user happens to be the "greatest annuity of all time," the CNBC host said.
Related Links:
Investors Punish Alphabet's Stock After Concerning Quarter
Cramer: Apple Shares Need Better iPhone Sales Or Services Growth To Move Higher
Photo courtesy of Apple.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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