“I felt that Tim came very close to saying that we could have a real breakthrough with China,” Cramer said on television after the interview. “He was so encouraging, and he said his information was recent.”
Cook said, “‘My information is basically real time,’ and real-time, he feels a lot better … about a possible China deal,” the “Mad Money” host added. Cook was “more bullish than I was.”
The United States and China will continue trade talks in Beijing for an unscheduled third day, a member of the U.S. delegation said on Tuesday, as the world’s two largest economies looked to resolve their bitter trade dispute.
Last week, Apple lowered its first-quarter guidance, citing economic weakness in China as one of the reasons for the pain. Cook later told CNBC he believed U.S.-China “trade tensions” exacerbated the slowdown in China.
If the two countries are able to reach a deal, that will mean good things for Apple’s stock, Cramer argued.
“It would be a big breakthrough and make people feel like they should be buying shares of Apple at their current levels,” he said. “I took [Cook’s remarks] as real upside and it made me feel like the stock is in the process of bottoming here.”
Cook also told Cramer that Apple’s growing ecosystem of devices and services is “probably underappreciated” by the naysayers on Wall Street.
— Reuters contributed to this story.
Programming Note: For more on Apple, watch Tim Cook’s full interview on “Mad Money” tonight at 6 p.m. ET.
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