Jim Cramer on Facebook’s name change and Apple, Amazon quarterly results

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CNBC Television published this video item, entitled “Jim Cramer on Facebook’s name change and Apple, Amazon quarterly results” – below is their description.

“Mad Money” host Jim Cramer on Monday discussed Facebook changing its name to Meta, as well as the latest quarterly results from Amazon and Apple. Subscribe to CNBC PRO for access to investor and analyst insights: https://cnb.cx/2Vtntx6

CNBC’s Jim Cramer reacted Thursday to the disappointing quarterly results from Apple and Amazon, suggesting the issues the companies faced do not alter the long-term investment thesis.

Shares of both Apple and Amazon were down more than 3% in after-hours trading as investors digested the quarterly numbers.

Apple’s earnings per share were in line with Wall Street estimates, but the iPhone maker’s sales of $83.36 billion were lighter than the expected $84.85 billion.

Amazon missed on both the top and bottom lines, while also dolling out weaker-than-expected fourth-quarter guidance.

Here are the “Mad Money” host’s takes on the numbers:


“With Apple, the problems are obviously temporary,” Cramer said, noting that CEO Tim Cook told him the company estimates supply constraints cost it around $6 billion in the quarter.

While Cook said Apple is seeing some improvements around semiconductor availability, Cramer said the CEO warned the company’s ability to meet demand may get worse “before it gets better” in the current quarter.

“You know my position on Apple: Own it, don’t trade it. That hasn’t changed. Supply shortages will be cured, we just don’t know when,” Cramer said. “If it was demand [slowdowns], the conversation would be quite different.”


“In the end, I think the problems here are temporary too, just like with Apple,” Cramer said, highlighting the fact Amazon’s e-commerce operations faced multiple headwinds, including shortages related to broader supply chain issues, as well as rising transportation costs.

“On top of that their retail business is decelerating, in part because it’s up against some very difficult comparisons,” Cramer said. “Management’s guidance wasn’t great, either. However, the Amazon Web Services business is on fire.”

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