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Cramer Talks Apple's Monday Rebound, Says Jumpy Investors 'Will Take Their Cue From Anything'

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Cramer Talks Apple's Monday Rebound, Says Jumpy Investors 'Will Take Their Cue From Anything'

Monday's trading action was highlighted by another morning of heavy selling, but once the afternoon session hit, major indices started to rebound and ended up closing in the green.

Apple Inc. (NASDAQ: AAPL) turned around after a panelist of CNBC contributors talked favorably about the stock. 

What Happened

During CNBC's "Halftime Report" segment Monday afternoon, all four panelists, including CNBC's Jim Cramer, expressed favorable views of the equity, Cramer said during his "Mad Money" show in the evening.

As if on cue, Apple's stock started to move higher — despite a concerning report from China earlier in the day, Cramer said. The rebound in Apple's stock is a "sign that jittery, insecure, underconfident traders will take their cue from anything," he said. 

Why It's Important

The bull versus bear debate surrounding Apple will continue for some time, Cramer said. The new reality that Apple will no longer issue iPhone unit guidance is not helping the bull case, he said, adding that there is now some chatter that Apple could pre-announce its earnings to the downside due to overly bullish prior guidance.

What's Next

Cramer, a longtime believer in Apple as the maker of the "finest consumer products in history," said it has become "hard for anyone to have conviction when there's so much negativity."

Related Links:

Cramer Breaks Down Apple's Enterprise Push With Salesforce

Cramer Says Apple Shares Should Trade At $300

Photo by Daniel Lu/Wikimedia. 

Posted-In: China CNBC Halftime Report iPhone China Jim Cramer Mad MoneyMedia Best of Benzinga

 

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