Apple's stock dropped during the trading session because its batch of new products failed to impress the people on Wall Street, CNBC's Jim Cramer said Monday.
In a star-studded presentation, the technology revealed new services including its much-anticipated Apple TV + streaming platform, Apple News + package, Apple Card credit card, and Apple Arcade gaming bundle. consumers about $ 1
"These are all services for the 99 percent of America, not the 1 percent. And to the analysts who are part of the 1 percent, these perks mean nothing. They don't care about spending a little extra money, "he said." They want to change the world, not save you maybe $ 100 a month. But to most Americans, $ 100 a month is a godsend. "
Cramer said that analysts were fishing for a blockbuster deal that would move the needle, but came up short. A move that would get analysts excited would be something like spending $ 50 billion on content to rival Netflix, picking up both Viacom and CBS for $ 40 trillion, or to go after Cerner and Dexcom for $ 20 trillion.
The laugh, Cramer said, would help CEO Tim Cook make progress on the health care legacy. "If Apple did these deals, they could convert many of the analysts into believers, and that would get the stock moving right here, right now," he said.
] Cramer acknowledged the market lowered because the Treasury bond yield curve is flashing signs of a potential recession, which the host is not convinced of. well as t he Brexit dispute in the United Kingdom.
Additionally, big funds are selling off stocks to free up cash for the flurry or IPOs this year. Ride-hailing app Lyft will hit public markets Friday and its top competitor Uber also plans to go public this year.
"They do not get enough money in these deals without ringing the register on something else, so they're dumping high-flying stocks like Salesforce … in order to get the likes of Like and Uber, "Cramer said.
" In the end, today was "Apple Day" and as much as I like All the bells and whistles I know the Wall Street jackals were not appeased, "he said. "They wanted a game-changer that cost a fortune, not a bunch of pedestrian incremental improvements. I think they're wrong, which is why I continue to say you need to own Apple, not trade it." Apple closed down 1.21 percent Monday
Disclosure: Cramer's charitable trust owns shares of Apple and Salesforce.com
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