When CNBC’s Jim Cramer went to buy the iPhone X as a holiday present for his wife, what could’ve been a mad dash turned into a bull case for Apple.
The “Mad Money” host was lucky enough to visit an Apple store that had one silver iPhone X left. Cramer happily bought it, but his Twitter followers weren’t as pleased.
About half of the internet told Cramer it was awful that he could even get the iPhone X because that meant demand was light and inventory was heavy. The other half said Apple misjudged the demand for silver iPhones. It was “damned if you do, damned if you don’t,” Cramer said.
But Cramer wasn’t having it. How could both sides of the argument possibly be bearish, he wondered?
“Can we just admit that you can’t fault them both ways?” he said. “You should be thrilled that they had some inventory, but not too much inventory, because too much inventory is, quite frankly, the bane of a retailer’s existence. I think this is ideal. Now, granted, this whole story is anecdotal, but it suggests that Apple threaded the needle about as well as you could possibly expect them to.”
“If anything, I think they’ve made the bull case for Apple, not the bear case,” Cramer concluded. “That’s why I believe that, even up here, you should own, not trade, the shares of the greatest consumer products story the world has ever known.”