Jim Cramer rebuffs recent downgrades of McDonalds, Tesla and Apple
CNBC's Jim Cramer on Monday pushed backed against recent downgrades of stocks he believes can persevere, including McDonald's, Tesla and Apple.
"Some stocks should not be downgraded," he said. "It's just not worth it, because it's only a matter of time before they snap right back."
Some analysts have been negative on McDonald's, including Morgan Stanley, who worried about pressure on the fast sector in general. One firm, Loop Capital, fretted over negative feedback for the new chicken strips offering. But Cramer expressed confidence in McDonald's ability to quickly discard unpopular products and adapt to changing conditions. For example, he said, the company rolled out a successful discount meal after customers complained prices had become too high. The strength of McDonalds, Cramer added, is that "they don't fight battles they can't win — when something doesn't work, they just dump it, and they move on."
While Cramer conceded he's not thrilled about Tesla CEO Elon Musk's feud with President Donald Trump — or that sales of the company's electric vehicles are declining — he said he feels there is "another act coming from Musk." He pointed out that Tesla is set to launch robotaxis later this month. Although Tesla was hit with two downgrades on Monday, he noted that the stock still managed to close up 4.55%.
Much of Wall Street has soured on Apple, Cramer surmised, noting a dip in enthusiasm at the Worldwide Developers Conference. While the iPhone maker is "in dry spell," he claimed it has the capacity to acquire something new, like AI search outfit Perplexity. Apple "is not a company that stands still," Cramer continued. He also emphasized that there's a reason this may not have been Apple's biggest year — it has faced serious pressure from the White House and its harsh tariff policies. Apple is scrambling to reduce its reliance on China by moving some production to India, and the company committed $500 billion to manufacture in the U.S. in an effort to satisfy Trump's demands. But the president has insisted all phones be made in the U.S., not India, threatening 25% or more tariffs on products made abroad.
"As long as nobody switches to Android, call me sanguine about Apple," he said. "Not more than that…certainly not less than that."
McDonald's, Tesla and Apple did not immediately respond to request for comment.
Click here to download Jim Cramer's Guide to Investing at no cost to help you build long-term wealth and invest smarter.Disclaimer The CNBC Investing Club Charitable Trust owns shares of Apple.
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