The boost in oil prices was the straw that broke the underclass's back, says Jim Cramer
Speakers
Jim Cramer
— Host, Mad Money
Summary
Jim Cramer turns cautious after a strong jobs report eliminates near-term rate cut hopes. He defends Apple's pullback as overdone, warns about the SpaceX IPO risks, and advises avoiding ServiceNow for now.
- Jim Cramer lowers bullishness after stronger-than-expected employment data.
- He believes rate cuts from the Fed are now off the table.
- Apple's post-WWDC selloff is seen as overdone and not a fundamental issue.
- SpaceX IPO is oversubscribed but could see a volatile opening and subsequent decline.
- Google's equity issuance is viewed as negative for Meta, Amazon, and Microsoft.
- ServiceNow is deemed too expensive to buy at current levels.
- Caller's IPO stock (likely CoreWeave) is considered a botched deal and advised to sell.
- Overall, Cramer recommends patience and waiting for a better entry point.
Ideas
Apple remains a market leader.
Apple's pullback after WWDC is overdone; the company has a strong AI monetization strategy through its massive user base and deals with Google/Gemini, making it a market leader worth holding. The selloff was driven by traders, not fundamentals, and Apple could have gone higher on the same news.
ServiceNow is expensive, avoid now.
ServiceNow is expensive and has been pivoting rapidly; despite being better than most enterprise software peers, it is not the right time to buy. The stock lacks a compelling entry point.
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This CNBC video, published June 08, 2026, features Jim Cramer discussing AAPL, NOW. 2 trade ideas extracted by AI with direction and confidence scoring.
Speakers: Jim Cramer · Tickers: AAPL, NOW