Apple stock dropped more than 5% on Monday following a bearish Wall Street call and an overall market rout. But Jim Cramer warns investors against buying the dip, just yet. “I see no reason to buy it whatsoever. Let them take [the stock] down. I know a lot of shorts, and I know they’re just going to press their bet,” Jim said during Monday’s Morning Meeting. Apple shares are sliding after Citi analysts cut iPhone sales estimates for calendar year 2025 and 2026, citing artificial intelligence upgrade delays for virtual assistant Siri. Citi also dropped its positive catalyst watch on the stock, which is among the 33 positions held in the CNBC Investing Club portfolio. Apple has dropped 10% year to date versus the S & P 500’s decline of 4% in 2025. AAPL YTD mountain Apple (AAPL) year-to-date performance “The expectation has been that the big update of Siri with on-screen awareness, personal context and deep app integration will be released sometime this April/May, but Apple confirmed on Mar 7 that the company sees delays in these features and now expects to roll it out in the coming year, which we view as a negative as it would have been a catalyst to drive up higher refresh this year,” said Citi analysts, who maintained a buy rating on shares. Jim acknowledged Apple’s staggered AI rollout but emphasized the company’s strategy of prioritizing quality over timing to market. It’s not like the tech behemoth was the first to invent the smartphone or wireless headphones but look at the huge commercial success of the iPhone and AirPods. Instead of focusing on Apple’s AI delays and underperformance Monday, investors should look at the company’s overall fundamentals. Jim pointed to Apple’s high-margin services business as a big plus. This includes recurring revenue streams from subscriptions, licensing, and partnerships within the App Store, Apple Pay, iCloud, Apple Music and more. “There’s nothing near term that’s so great [about the stock.] However, I will say last night at 3 a.m., I paid my Apple bill. And all over the world [people] are paying their Apple bill too,” Jim said. “People are missing the whole boat. They should realize the service revenue stream is fantastic as well.” Apple’s decline comes as the overall stock market continues to drag Monday while Wall Street weighs the odds of a recession from President Donald Trump ‘s tariffs and an escalating global trade war. The tech-heavy Nasdaq hit its lowest levels since last September, pulled down by weakness in Apple, along with other Club holdings such as Nvidia , Alphabet , and Meta Platforms. “This is a decline moment,” Jim said during CNBC’s “Squawk on the Street” on Monday. “There’s a lot of panic, and no one ever made any money panicking.” (See here for a full list of the stocks in Jim Cramer’s Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the 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. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
