Cramer Stands by Apple Amid Memory Shortage Woes

Jim Cramer, a well-known financial commentator, has defended Apple Inc. (NASDAQ: AAPL) against criticism over its memory chip shortage and mixed earnings results.

The company's shares have risen 35.8% over the past year and 14% year-to-date, with Cramer citing Tim Cook's leadership as a key factor in its success.

Cramer pointed out that Apple is not alone in facing memory shortages, as Meta and Google are also purchasing from constrained supplies, making it difficult for the company to keep phone prices manageable.

Apple's June quarter financials showed iPhone revenue jumping 21% to $54 billion, while total revenue rose 16.4% to $109 billion. However, the Services segment generated lower-than-expected revenue, and iPad sales fell 5.9%, raising concerns about Apple's growth trajectory.