On Thursday, CNBC’s Jim Cramer said that investors should not allow concerns regarding the iPhone orders of Apple keep them out of the stock’s likely run higher.
On Thursday, shares of Apple and some suppliers were lower after The Economic Times, a Taiwan-based newspaper, reported, citing a source, that the tech giant may be cutting orders for the iPhone 8 series.
Cramer stated on ” Squawk on the Street ” that news regarding supply fears or iPhone orders has troubled Apple investors “since the beginning of time.”
“How many times have people sold it on that kind of stuff?” stated Cramer, whose charitable trust controls Apple shares. “It has just kept people out of one of the great runs of all time.”
“And I think it’s going to do it again,” added the host of CNBC’s “Mad Money,”
In September, Apple revealed the iPhone 8 and iPhone 8 Plus alongside the high-end iPhone X. Some analysts believe that the company is likely to concentrate more on the iPhone X, which looks entirely different from its predecessors with an edge-to-edge display.
On midmorning Thursday, shares of Apple were down by more than 2 percent, at about $155 per share. According to FactSet, the stock is up above 34 percent in 2017.