Kramer: More than 1% for a large-cap stock like Apple is not that big of a deal.

Published: Sep 09, 2024 Duration: 00:04:01 Category: News & Politics

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A.I. FROM THE GROUND UP, BUT NOT ABLE UNTIL THE BETA VERSION ROLLOUT NEXT MONTH. JOINING ME NOW IS RICHARD KRAMER. >> GOOD TO SEE YOU, FRANK. >> I WANT TO FOCUS ON THE HEADLINES. THE BACK TAXES THAT APPLE HAS TO PAY. HOW BIG OF A DEAL IS IT FOR THE STOCK? WE ARE SEEING IT MOVE LOWER IN THE PRE-MARKET DOWN 1%. >> I THINK MORE THAN 1% FOR A LARGE CAP STOCK LIKE APPLE NOT THAT BIG OF A KEDEAL. APPLE HAS SET ASIDE THE MONEY IN AN ESCROW ACCOUNT AND CLAIM IT BACK IN U.S. FOREIGN TAX CREDITS. I WOULD NOT WORRY WITH THE CASH BALANCE SHEET. >> ALL RIGHT. WE'RE FOCUSING ON THE STOCK MOVE FOR APPLE THIS MORNING ON THE NEWS. YESTERDAY, AFTER THE BIG EVENT, IT WAS MEH. KIND OF MEH. NOT A BIG REACTION. WHAT WAS YOUR TAKE ON THAT AND THE STOCK MOVE AND THE ANNOUNCEMENTS THAT APPLE MADE? >> I THINK THE STOCK MOVES OF 1% OR 2% STOCKS IN THE LARGE CAP IS IRRELEVANT. THERE WILL BE A HUGE AMOUNT OF NOISE TRADING WITH THE NAMES. THE TECH PRESS AND INNOVATIONS AND MOST ORDINARY CONSUMERS SEE A NEW PHONE. THE LAST NOTE WE DID ON APPLE IS CIRCLING THE WAGONS. LOCKING IN THE INSTALL BASE AND MAKE SURE THEY DON'T LEAVE THE ECOSYSTEM. APPLE AT 1.2 BILLION USERS. THEY NEEDLESS THAN ONE IN FIVE TO UPGRADE THIS YEAR TO MAKE THIS YEAR A SUCCESS. NEXT YEAR, YOU WILL SEE A NEW FORM FACTOR AND THE A.I. SERVICES ROLLED OUT WITH THE LANGUAGE VARIANCE. CHINESE AND SPANISH. ALL OF THE STUFF BY 2025. BY THE NEXT TIME THEY LAUNCH THE iPHONE, THAT WILL BE IN THE MARKET FOR PEOPLE TO TRY. >> RICHARD, I'M NOT CLEAR HOW YOU FEEL ABOUT YESTERDAY. I GOT TO BE HONEST. I WANT YOUR REACTION AND WHAT ANALYSTS HAVE TO SAY AND SEE IF YOU AGREE OR DISAGREE. THIS IS FROM BARCLAYS. THEY SAID WE DON'T VIEW THE A.I. OFFERING AS COMPELLING ENOUGH TO DRIVE SIGNIFICANT DEMAND GIVEN MACRO RISK IN CHINA AND REGULATORY HURDLES IN CHINA. AGREE OR DISAGREE? YOU SAY THE ANALYSTS AND EXPERTS ARE OVER THE IDEA OF A NEW PHONE, BUT CONSUMERS ARE MORE WILLING TO ADOPT. ONE ANALYST SAYS THEY DON'T SEE THIS DRIVING iPHONE CHURN. >> AGAIN, YOU HAVE TO LOOK AT THE FACTORS. THINGS LIKE CARRIER PROGRAMS, THE FACT THAT PEOPLE'S PHONES DEGRADE WHEN THEY GET OLD. THE BATTERY DOESN'T WORK AS WELL. THEY BREAK SCREENS AND SO FOR THE AND PEOPLE WANT THE PRODUCT WHICH IS THE SINGLE TECH PRODUCT THEY USE EVERY SINGLE DAY. PEOPLE GO TOO FAR IN THE DIRECTION OF SCRUTINIZING THE FEATURES AND UNDERESTIMATE THE FACT THIS IS THE NUMBER ONE BRAND IN THE WORLD AND THEY HAVE A HUGE NUMBER OF PEOPLE LOCKED IN THE ECOSYSTEM. THE QUESTION IS NOT WILL THEY CHURN OUT TO ANOTHER ECOSYSTEM, BUT WILL APPLE COME OUT WITH ATTRACTIVE FEATURES, FOR EXAMPLE, A HEARING TEST OR VERY SIMPLE A.I. FEATURES THAT DON'T FEEL THREATENING TO USERS THAT COMPEL THEM TO UPGRADE. AGAIN, I THINK APPLE AS A

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