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Cramer on Apple earnings and why he feels the stock is undervalued

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CNBC’s Jim Cramer said Thursday he still believes Apple’s stock is undervalued, even with a nearly 60% run higher in 2019, almost triple the pace of the overall stock market this year.

“This is a company that has a multiple that’s way too low given the fact that it’s consistent and China does not seem to be the be-all and end-all of what’s going to happen,” Cramer said on “Squawk on the Street.”

The “Mad Money” host was suggesting that any adverse effects from increased competition in China and the U.S.-China trade war itself should not be keeping a lid on the stock.

Apple trades for just a 19 price-earnings ratio based on estimated 12-month earnings, lower than the P-E on the S&P 500 of…



Source cnbc.com

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