Jim Cramer loses his Apple Watch, takes it out on Toni Sacconaghi

From Cramer’s “The Tale of My Apple Watch” posted Wednesday on Real Money:

Yesterday someone stole my watch.

I happened to have walked out to accompany my wife, Lisa, to the grocery store two blocks away and when I came home it wasn’t on my arm… Lisa saw how distraught I was and came downstairs to an obviously disturbed husband… and while I was prattling on about how angry I was — My Apple Watch — she reached underneath where she was sitting, and… said “this Apple watch?” My heart stopped racing, something it would have measured, and I received the lecture I deserved.

Now I want to give you a lecture someone deserves about Apple (AAPL) and why, beyond the beyond-despair fury of the stolen watch, I hope she and others learn about how much Apple means to people and why it’s worth owning and not trading.

About two weeks ago, March 30 to be exact, the very smart analyst from Bernstein, Toni Sacconaghi, was on CNBC being asked about whether Tesla (TSLA), off 15%, or Apple, down nearly 10%, were worth holding on to…

“For Apple I’m not sure there’s a catalyst in the next six months,” he said. “It had a great run last year. The challenge is that its valuation is at six or seven year highs and perhaps more importantly there is not a real catalyst.” He then traced out all of the good news that you got last year and how it would now be up against difficult comparisons.

Should you be angry at Toni if you sold? Absolutely not. You should be angry at yourself for thinking that you could somehow get out and then get back in again six months later. We don’t know why Apple’s has been rallying. We almost never do. But it’s precisely because of this very clinically dismissive call that I keep saying own it, don’t trade it…

Now, you may ask, how could I know more about Apple’s stock than one of the best analysts on Wall Street. Me, who covers hundreds, no thousands of stocks, and he a specialist, who covers the important techs?

Simple. It’s the watch. You see, I can’t live without it.

My take: That’s the Sacconaghi conundrum… so smart and yet so clueless.

15 Comments

  1. David Emery said:
    Cramer is right. Twice each day.

    4
    April 15, 2021
    • Gregg Thurman said:
      That’s the Sacconaghi conundrum… so smart and yet so clueless.”

      Isn’t that the origin of the term ‘hubris’?

      5
      April 15, 2021
  2. Fred Stein said:
    Dear Mr. Cramer.

    “Find my”

    PS: I literally just typed “find my” into my search bar – right to Apple’s page.

    2
    April 15, 2021
  3. Jerry Doyle said:
    “…. Simple. It’s the watch. You see, I can’t live without it. The watch, like the phone, is how I live. I was trying to imagine what tomorrow would be without my watch, which I had taken off at the behest of a podcast producer who didn’t want it going off. Something that was an afterthought accessory when I bought it, had become a necessity I couldn’t live without just a few years later.”

    “…. Something that was an afterthought accessory when I bought it, had become a necessity I couldn’t live without just a few years later.”

    Precisely! Jim is saying what many of us long on this blog have stated about the Watch. If one takes the time to learn the Watch utilitarian functions then on soon can’t live without having their Watch on their wrist. The Watch literally can usurp one’s need for the iPhone. I can leave home without my iPhone and keep going. Without my Watch, I turn around and head back home to get it off the charger.

    1
    April 15, 2021
    • Jerry Doyle said:
      To keep the Watch from going off during the Podcast, all Jim needed to do was to swipe up from the bottom and tap the bell icon to turn off the sound and to tap the “moon” icon for “Do not disturb.”

      3
      April 15, 2021
  4. Thomas Larkin said:
    “My take: That’s the Sacconaghi conundrum… so smart and yet so clueless.”

    I would say that about nails it!

    1
    April 15, 2021
  5. Michael Goldfeder said:
    Let’s put it out there for Mr. Sacconaghi who prides himself on his ability to assess what Apple does and where its stock price will be in the coming months, to make a zoom appearance on Apple 3.0 and answer some real questions. He’s so used to the fawning and slow pitch softballs he receives on CNBC shows, how about he gets out of his comfort zone and shows us he can handle some real heat.

    Or does he just look at Apple 3.0 as the dunk tank at the county fair that he wants nothing to do with as he’s afraid of the water?

    6
    April 15, 2021
  6. John Konopka said:
    It’s amazing how wives know where to find everything.

    2
    April 15, 2021
    • David Drinkwater said:
      I’ve heard it’s because they still them and hide them. Right where you were sitting a few minutes ago. 😀

      1
      April 15, 2021
  7. Ken Cheng said:
    Can’t live without my Tesla, either!

    0
    April 16, 2021

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