Apple 'Back In The Good Graces' Of Trump, Says Jim Cramer: AAPL Stock's In 'Fantastic Shape'

Former hedge fund manager and TV host Jim Cramer kicked off his annual “Mad Money Fantasy Football Draft,” doubling down on a longtime favorite, Apple Inc. AAPL, despite its lackluster performance over the past year.

The Stock’s In ‘Fantastic Shape’

On Saturday, Cramer once again made his pitch for Apple, despite it being one of the “worst performers” in the “fantasy football stock basket over the past year.” He notes the “measly mid-single digit gain,” barely trailing the S&P 500, but says, “you know what? I’m not going to be easily shaken off Apple. That doesn’t bother me. The stock’s in fantastic shape.”

The symbolic quarterback of Cramer’s stock portfolio, Apple still holds its ground due to renewed optimism on multiple fronts, and he explained why on CNBC’s Mad Money.

See Also: iPhone Price Hike, Siri AI Upgrades, Buffett Criticism And More: This Week In Appleverse

“The company seems to be back in the good graces of the Trump administration,” he says, noting legal developments tied to the company’s lucrative partnership with Google. “The judiciary hasn’t blocked them from taking billions of dollars to make Google the default search engine.”

Despite a sluggish year-over-year performance, Apple has staged a substantial comeback in recent months. “It’s up over 41% from its April lows,” Cramer highlighted, pointing to the stock’s resilience amid shifting market sentiment.

Beyond the court wins and executive favor, Cramer also cited a turnaround in the company’s core operations. “Apple’s sales are growing again,” he said.

Cramer concludes by saying that as long as Apple can maintain its dominance and the benefits of its default search engine arrangement, the company’s artificial intelligence roadmap can afford to take a back sear for now.

‘Home Run Ruling’ For Apple

Last week, a U.S. Court ruled in favor of Apple and Alphabet Inc. GOOG GOOGL, leaving a $20 billion annual deal that makes Google the default search engine across all Apple products intact.

Senior tech analyst Dan Ives says, “This is a monster win for Cupertino and for Google it’s a home run ruling that removes a [$25 billion] overhang on the stock.”

Cramer referred to the ruling as being of “incredible importance” for the company. He says that instead of spending billions on Nvidia’s chips to build its own AI offerings, the company can now get paid by Alphabet to integrate its AI offerings.

Apple shares were down 0.03% on Friday, closing at $239.69, and are up 0.15% in pre-market trade. The stock scores poorly in Benzinga’s Edge Stock Rankings, but has a favorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.

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