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☆ Asia markets rise after Wall Street soars on soft inflation data; Japan GDP shrinks
▼ + stars: | 2024-05-16 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

The best-performing "Magnificent Seven" stock halfway through the second quarter is Google and YouTube owner Alphabet , up about 14.15%. All four are outpacing the S&P 500, which has risen about 2.1%. By contrast, Microsoft (+0.6%), Tesla (-0.7%) and Meta Platforms (-1%) are all trailing the S&P 500 in the second quarter. The best-performing sector this quarter is the S&P 500 Utilities, up 9.9% and more than twice as much as second-ranked S&P 500 Communication Services, higher by 3.9%. S&P 500 Information Technology (+2.8%) is also outperforming the S&P 500.

Persons: — Scott Schnipper Organizations: Apple, Nvidia, Microsoft, Communication, Real Estate, Health Care

☆ These are the top 10 holdings of the Mormon church's $55 billion stock portfolio
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The investment arm of the Mormon church revealed some of its holdings in a 13F filing Wednesday. These are the top 10 holdings of the church's stock portfolio as of March 31. AdvertisementThe Church of Jesus Christ of Latter-day Saints has an investment portfolio of over $100 billion that includes $55 billion invested in publicly traded stocks. AdvertisementThe church, widely known as the Mormon church, reports its stock holdings on a quarterly basis, and a recent 13F filing revealed its top holdings as of March 31. These are the church's top 10 stock holdings at the end of the fourth quarter, as well as the changes in each position.

Persons: —, of Jesus Christ, Eli Lilly Vincent Kessler, Seth Wenig, Ethan Miller, Apple Justin Sullivan, Microsoft Satya Nadella, Sean Gallup Organizations: Service, of Jesus, Securities and Exchange Commission, Advisors, Reuters, JPMorgan AP, UnitedHealth, Mastercard Reuters, Nvidia, Microsoft, Getty

☆ Apple is letting you control your iPhone and iPad with your eyes
▼ + stars: | 2024-05-15 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Eye Tracking will let users control their iPhones and iPads by noticing where they look. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementApple will soon let iPad and iPhone users control their devices with a glance of their eyes. The feature uses the front-facing camera to set up and calibrate, though Apple notes it doesn't access or share any data. This story is available exclusively to Business Insider subscribers.

Persons: There's, —, Apple Organizations: Apple, Global, Service, Business

☆ Apple desperately needs its Next Big Thing
▼ + stars: | 2024-05-14 | by ( Paris Marx | ) www.businessinsider.com time to read: +10 min

But after a decade of doing that, iPhone sales are slowing, revenue is down, and the company, again, needs to find its next big thing. Apple's own outlook suggests poor iPhone sales will persist, especially as sales in China rapidly decline. The drawbacks of Cook's divestment from product design and development are now becoming clearer. Both the EU and the US cases would also make some people more likely to switch to a cheaper phone, which would threaten iPhone sales even further. The drawbacks of Cook's divestment from product design and development are now becoming clearer.

Persons: Steve Jobs, Jobs, Apple, Tim Cook, Cook, haven't, Steve, Tripp Mickle, Jony Ive, we've, wouldn't, Let's, aren't, Peter Kafka Organizations: Apple, Apple Watch, IBM, Google, EU, Bloomberg, Nasdaq, Business Locations: China, Asia, India, Indonesia

☆ Apple's new iPad Pro is thin and fast, but the software needs an update
▼ + stars: | 2024-05-13 | by ( Todd Haselton | ) www.cnbc.com time to read: +8 min

I've been testing the new iPad Pro for several days and what I found is that it's a very nice iPad. The game will look better once Activision Blizzard releases an update enabling improved graphics for the M4 iPad Pro. 2024 13-inch Apple iPad Pro Todd Haselton | CNBCThe new iPads Pro support Apple's updated $350 Magic Keyboard for iPad Pro (the 11-inch version is $300). 2024 13-inch Apple iPad Pro Todd Haselton | CNBCThe updated Apple Pencil Pro is also a lot of fun. What's bad2024 13-inch Apple iPad Pro Todd Haselton | CNBCHere's my biggest gripe about the Pro models: The software, iPadOS, is what you'll get on any other iPad.

Persons: I've, Apple hasn't, Christoph Dernbach, Diablo, it's, Todd Haselton, hasn't, Apple, Slack, you've, Tim Cook Organizations: Apple, Getty, Pro, Activision Blizzard, CNBC, CNBC Here's, Conference, WWDC Locations: It's, 10hz

☆ Google and Apple partner to fight location tracker stalking
▼ + stars: | 2024-05-13 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

IPhone and Android devices with up-to-date software will receive a message telling them that a Bluetooth tracker is "found moving with you." Users can then have the tracker play a sound to make it easier to find, and access instructions about how to disable it. Since then, Apple has been working with Google to integrate alerts and warnings into iOS and Android to tamp down criminal misuse. The AirTag is also now just one of many Bluetooth trackers. Apple and Google allow third-party companies, such as Chipolo and Motorola, to build their own devices.

Persons: AirTags Organizations: Apple, Google, Bluetooth, Motorola

☆ Meet the group preparing for a Soviet Union-type collapse of the US economy
▼ + stars: | 2024-05-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at the people preparing for the collapse of the financial system . The big storyPreparing for the worstAdobe; Chelsea Jia Feng/BIOpinions fluctuate on the economy, but one group has a decidedly strong take. In the subreddit r/economiccollapse, users are preparing for a Soviet Union-type fall of the US economy , writes Business Insider's Jennifer Sor. Further down the economic totem pole, ALICEs (asset limited, income constrained, employed) are struggling to make ends meet . 3 things in techAlex Wong/Getty Images, STR / Contributor/Getty Images, Stephane De Sakutin/Contributor/Getty Images, Abanti Chowdhury/BIHow Mark Zuckerberg turned against the news.

Persons: —, Chelsea Jia Feng, Jennifer Sor, Jennifer, aren't, Tyler, there's, Neil Dutta, Jim Simons, annualized, Alex Wong, Stephane De Sakutin, Abanti Chowdhury, Mark Zuckerberg, Zuckerberg, Rupert Murdoch, Sam Altman, Alyssa Powell, Rick Doblin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Business, Chelsea, Macro, Renaissance Technologies, Big Tech, Apple, FDA, FOX Locations: Soviet Union, China, Washington, Beijing, New York, London, Chicago

☆ Jim Cramer sees more room for Honeywell to climb as the stock shakes off rough start to 2024
▼ + stars: | 2024-05-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. There was largely an "absence of news" last week, Jim Cramer noted, and yet stocks were still able to advance. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Stocks, Jim, OpenAI, Vimal Kapur, Jim Cramer's Organizations: CNBC, Dow Jones Industrial, Nasdaq, Apple, Bloomberg News, Developers Conference, Honeywell International, Club, Honeywell, AAPL

☆ Top Wall Street analysts are feeling confident about these 3 stocks after earnings
▼ + stars: | 2024-05-12 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Bearing that in mind, here are three stocks favored by the Street's top pros, according to TipRanks, a platform that ranks analysts based on their past performance. Silberman noted that U.S. same-store sales growth of 5.6% reflected broad-based momentum, with improved traffic experienced in carryout and delivery. She added that the traffic growth was driven by Domino's revamped loyalty program, strong value proposition, operations and innovation. The analyst also noted that DPZ is benefiting from increased contributions from Uber Eats, thanks to growing marketing efforts and awareness. The analyst thinks that the company's strategic initiatives will enhance same-store sales growth and drive meaningful restaurant margin expansion in the near and long term.

Persons: Lauren Silberman, Silberman, Domino's, Uber, TipRanks, BTIG, Peter Saleh, Saleh, Baird, William Power, Power Organizations: Wall Street, U.S, Deutsche Bank, Investors, Apple's, Apple Locations: China, TipRanks

☆ Warren Buffett's selling stocks like Apple as he sees trouble ahead — but he'll spend if markets crash: elite strategist
▼ + stars: | 2024-05-12 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWarren Buffett is cashing in stocks like Apple because he knows the good times won't last — but he'll spend big once disaster strikes, a veteran strategist says. AdvertisementThe conglomerate's disposals fueled a $21 billion increase in its stack of cash and Treasurys to a record $189 billion. Related storiesDietrich underscored that as a value investor, Buffett prizes underpriced assets and avoids expensive ones. Apple, which remains Buffett's largest stock holding by far, has more than tripled in value since he finished building the position in 2018.

Persons: —, Warren Buffett, Paul Dietrich, Riley Wealth, Buffett, Dietrich, He's, Jeff Bezos, Jamie Dimon, Meta's Mark Zuckerberg, he'll, Goldman Sachs, Davidson Organizations: Service, Apple, Business, Berkshire Hathaway, Berkshire, Walmart, downturns, Electric, Dow Chemical Locations: Berkshire

Learn moreWhether you have yet to buy a Mother's Day gift or just want to shop this weekend, Best Buy has you covered. The retailer is holding another three-day event, so we've gathered the best Best Buy deals the store has to offer this week. Apple is also a prevalent player in this week's Best Buy deals, with the 2nd Gen AirPods down to only $80 and the 2nd Gen Apple Pencil down to $79. Best Buy sale quicklinks Appliances : Get up to 30% off major appliances. Shop at Best BuyThis is just a small taste of this weekend's top Best Buy sale picks.

Persons: we've, AirPods, It's, Dyson, JBL, It’s, Mason Organizations: Business, JBL, 2nd, Apple, Canon, Sony, Fujifilm, iPad, Apple Watch

☆ Apple apologizes for iPad Pro ad showing hydraulic press destroying guitars, piano
▼ + stars: | 2024-05-09 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple took on Thursday the unusual step of apologizing for a short advertising video promoting the company's new iPad Pro tablet after the ad was roundly criticized on social media. Apple CEO Tim Cook posted the spot on X, formerly Twitter, on Tuesday. Apple has also decided not to run the ad on TV, Ad Age said. It isn't the first Apple iPad ad in recent years to annoy some customers. In 2018, some people said they were annoyed by an iPad Pro spot in which a child asks, "What's a computer?"

Persons: Tim Cook, Joko Widodo, Apple, Tor Myhren Organizations: Apple, YouTube, \ Media, Lab Locations: Jakarta, Indonesia

☆ Tim Cook wore one-of-a-kind Nike Air Max 1 sneakers entirely designed on an iPad during an Apple product launch
▼ + stars: | 2024-05-09 | by ( Lauren Edmonds | ) www.businessinsider.com time to read: +2 min

Apple CEO Tim Cook donned Nike Air Max 1 '86s created, in part, using Apple products. Cook kicked off Apple's livestream event on Tuesday while wearing one-of-a-kind Nike Air Max 1 '86 sneakers. A Nike representative told Business Insider that the sneakers were inspired by Apple's new products: the iPad Pro and Apple Pencil Pro. Apple"Starting with our iconic Nike Air innovation, the one-of-one Air Max 1 '86 was designed entirely on the all-new iPad Pro with the first-ever Apple Pencil Pro. Apple iPad Pro.

Persons: Tim Cook, —, Cook Organizations: Apple, Nike Air Max, Service, Nike, Business

☆ The C.E.O.s Who Just Won’t Quit
▼ + stars: | 2024-05-09 | by ( Emma Goldberg | ) www.nytimes.com time to read: +1 min

Even so, there are few scenarios in which a middle-aged corporate executive can be treated like an aging rock star by thousands of fawning employees. Around the time Ballmer announced his plans to go, the company’s stock price was lower than when he started the job. The media was bemoaning Microsoft’s “lost decade.” While its tech rivals had seized on new markets, Microsoft had changed fairly little. Apple dominated smartphones, Google prevailed in search and giants like Facebook — which didn’t even exist when Ballmer took the reins — stood atop a whole new sector of the economy. With the arrival of Ballmer’s successor, Satya Nadella, Microsoft’s stock price soared.

Persons: Ballmer, ”, I’ve, Bill Gates, Microsoft’s “, —, Satya Nadella Organizations: Microsoft, Apple, Google, Facebook

☆ How Apple's record $100 billion-plus stock buyback benefits shareholders
▼ + stars: | 2024-05-09 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Apple 's latest $110 billion stock buyback authorization is the granddaddy of them all — the biggest in corporate history. Assuming an average annual $100 billion buyback by the Club name going forward, we wanted to look at just how much that is worth to shareholders. With more records set for its installed base of active devices and services in Q2, Apple stock rose nearly 6% on Friday, the session following Thursday evening's release. The net cash position is important because Apple aims to be net cash neutral over time. At a valuation of 28 times earnings, we arrive at a share price of about $182 each, right around where it was trading Wednesday.

Persons: let's, Apple, Jim Cramer's, Jim Cramer, Jim, Gary Hershorn Organizations: Apple, Club, Vision, Vision Pro, CNBC, Corbis, Getty

☆ It's possible to spend over $3,000 now for a maxed-out iPad with all the bells and whistles
▼ + stars: | 2024-05-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

The new iPad Pro can get pricey when it comes to upgrades. In an announcement that Apple CEO Tim Cook described as the "biggest day for iPad since its introduction," the tech giant launched brand new iPad Air and iPad Pro models along with a new Pencil Pro stylus and a Magic Keyboard. The iPad Pro comes with a new OLED display and up to two terabytes of storage. AdvertisementIf the $3,000 range is too steep, Apple also dropped the price of its 10th-generation iPad to $350 on Tuesday. Though older, it's still compatible with previous generations of the Pencil and Magic Keyboard Folio.

Persons: —, Tim Cook Organizations: Service, Apple, Business

☆ TikTok is taking the US government to court in a showdown of free speech vs. national security
▼ + stars: | 2024-05-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And the knock-on effects extend beyond TikTok, impacting everything from President Joe Biden's reelection campaign to Apple and Tesla . AdvertisementTikTok, Tyler Le/BIThe TikTok-US government fight pits two pillars of American society against each other: free speech and national security. 3 things in businessDeliormanli/Getty, Olivier Verriest/Getty, Andrei Akushevich/Getty, Tyler Le/BIIn other newsAdvertisementWhat's happening todayToday's earnings: Airbnb, Uber, and other companies are reporting .

Persons: —, swiping, Tyler Le, ByteDance, Dan Whateley, Geoff Weiss, Joe Biden's, It'll, TikTok, hasn't, haven't, Fallon, Jane Fraser isn't, Fraser, Piper Sandler, Michael Kantrowitz, Josh Edelson, Isabel Fernandez, Mark Zuckerberg, Zuckerberg, Getty, Olivier Verriest, Andrei Akushevich, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, Apple, Chinese Communist Party, Big Tech, Getty, Pujol, Associated Press, Facebook Locations: France, China, Beijing, Citadel, Millennium, AFP, New York, London

Apple revealed new iPad Air and iPad Pro models at its "Let Loose" event on Tuesday. The iPad Pro models are the first to feature OLED displays with deeper contrast. AdvertisementApple overhauled its iPad lineup on Tuesday during its "Let Loose" event in California — including fancy new screens for its top-of-the-line "Pro" models. AppleThe iPad Air comes in four colors: a new blue, a new purple, and the usual Starlight and Space Gray. Related storiesBut the standout feature is the new screens, which are the first OLED displays in the iPad lineup.

Persons: Apple, —, Tim Cook Organizations: Service, Apple, Gray, Apple Apple Locations: California

☆ Apple wants to give the iPad a boost
▼ + stars: | 2024-05-07 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The tech giant's event will reportedly showcase a new family of… iPads and iPad accessories. But Apple's event , which kicks off at 10 a.m. EST, is looking to give the iPad a boost. iPhone sales have noticeably dipped, which is why you're hearing Apple tout its "services" business , writes BI's Peter Kafka. And the new product Apple wants you to be excited about — the Vision Pro — hasn't lived up to the hype. a16z joins the Big Tech "fake work" debate.

Persons: —, Tyler Le, they're, iPads, Antonio Villas, Boas, BI's Peter Kafka, Peter, hasn't, Katie Notopoulos, Wall, Lauren DeCicca, Tim Cook, Katie, aren't, I'd, we'll, I'm, Alyssa Powell, Danielle DiMartino Booth, James Devaney, Roger Kisby, Jack Dorsey's, Elon, Dorsey, Elon Musk, Satya Nadella, OpenAI, Jeff Bezos, Mark Zuckerberg, Warren Buffett, Berkshire Hathaway, a16z, Emily Sundberg, Andreessen Horowitz, David Ulevitch, Vladimir Putin, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Apple, Google, Getty, US Treasury, National Bureau of Economic Research, Images, Penske Media, Microsoft, Tech, Paramount, Berkshire, Big Tech, Walt Disney Company Locations: BREIT, New York, London

☆ The market tries to extend its winning streak. Here's what working for and against stocks
▼ + stars: | 2024-05-07 | by ( Jeff Marks | ) www.cnbc.com time to read: +6 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Jerome Powell, Jim Cramer's, Stanley Black, Decker, Cramer, Jim, That's, there's, Nelson Peltz, Peltz, We've, we'll Organizations: CNBC, Federal, Logitech, After West Texas, Energy Department, Strategic Petroleum Reserve, Susquehanna, Disney, Developers, Apple, Wynn Resorts, Arista Networks, Rivian, Occidental Petroleum, Bros, Reddit, Emerson Electric, Jim Cramer's Charitable Locations: FirstSource, After, Macao, Las Vegas, Occidental, Lyft

☆ Apple just showed off new iPad accessories — see what's new
▼ + stars: | 2024-05-07 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

There's a new, more advanced stylus called the Apple Pencil Pro, which Apple claims is a "game changer for users to express ideas and creativity." Users can squeeze the Apple Pencil Pro to open up a tool palette on the new iPads for more seamless art creation. Related storiesMeanwhile, the Pencil Pro "pairs, charges, and stores" using a magnetic on the side of the iPad Pro. AdvertisementApple's new Pencil Pro also pairs with another new attachable iPad Pro accessory: the Magic Keyboard. AppleThe new Magic Keyboard for iPad Pro comes in two colors, black and white.

Persons: —, There's, it's, Apple Organizations: Apple, Service, Apple Artists, Pro

☆ Apple unveils new iPad Pro with ‘outrageously powerful’ AI-powered chip
▼ + stars: | 2024-05-07 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +3 min

In a pre-recorded live streamed event from its Cupertino, California headquarters, the company introduced the latest versions of its iPad Pro and iPad Air tablets, and an all-new Apple Pencil Pro. CEO Tim Cook said Wednesday’s announcement marked “the biggest day for iPad since its introduction.”At the heart of the new iPad Pro is Apple’s new custom M4 processor, which delivers 4 times the performance as its existing iPad Pro models. The latest iPad Pro comes in two sizes: 11 inches and 13 inches. The iPad Pro comes in two finishes, silver and space black. The iPad Air is powered by Apple’s custom M2 processor with faster GPU and neural engine that’s 50% faster than the previous iPad Air.

Persons: Tim Cook, Cook, Apple, ”, it’s Organizations: CNN, Apple, Developers Conference, iPad Locations: Cupertino , California, China

☆ Warren Buffett's Apple trim epitomizes one of Jim Cramer's major investing rules
▼ + stars: | 2024-05-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +4 min

Warren Buffett's reasons this weekend for trimming Berkshire Hathaway's massive Apple stake exemplify one of Jim Cramer's primary rules of investing. More recently, Jim steadfastly stood by his "own it, don't trade it" conviction as Apple shares went on a rough ride earlier this year. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Warren, Jim Cramer's, Jim, Buffett, Tim Cook, CNBC's Becky Quick, Cook, Becky, Jim likes Apple, Apple, Jim Cramer, Warren Buffett Organizations: Apple, Developers, CNBC, Berkshire Locations: Berkshire, Omaha , Nebraska

☆ Apple announces new iPad Pro with M4, new iPad Air tablets
▼ + stars: | 2024-05-07 | by ( Kif Leswing | ) www.cnbc.com time to read: +3 min

watch nowApple on Tuesday announced new versions of its iPad Air and iPad Pro tablets, in a short video posted on its website. The iPad Pro, Apple's most expensive and advanced tablet, will come in two sizes, a 11-inch model and a 13-inch model, Apple said. The smaller iPad Pro starts at $999, and the larger 13-inch model starts at $1299 with 256GB of storage, a slight price increase from its predecessor. The new iPad models use a new Apple chip called the M4, an update from the M3 chips that currently power Apple's laptops. The iPad Pro comes with a 12 megapixel rear camera that can record 4K video, according to Apple.

Persons: Tim Cook, Apple, Todd Haselton, John Ternus, Todd Haselton Apple Organizations: Apple, CNBC

☆ Apple investors get 2 new signs that the tech behemoth is taking AI more seriously
▼ + stars: | 2024-05-07 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

There's mounting evidence of how serious Apple is about artificial intelligence, Jim Cramer said Tuesday, pointing to a Wall Street Journal report about the tech giant developing AI data center chips. "This is the beginning of what I regard as the Apple offense on AI." He also reiterated his Apple stock mantra: "Own it, don't trade it." Following a 48% gain last year and an all-time just under $200 per share back in December, Apple shares fell on hard times. Jim suggested Tuesday that Apple investors will be rewarded for their patience once management fully unveils their forthcoming AI strategy.

Persons: Jim Cramer, Jim, Tim Cook Organizations: Wall, Apple, Data Centers, Taiwan Semiconductor Manufacturing, Big Tech, Developers Conference

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