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Cramer feels better about Apple’s China exposure after Nike earnings

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People wearing face masks walk past an Apple store in Beijing on March 17, 2020 in Beijing, China.

Fred Lee | Getty Images

CNBC’s Jim Cramer indicated Friday he’s feeling more comfortable about the geopolitical risks facing U.S. companies with important exposure to China such as Apple and Tesla.

Cramer pointed to a pair of developments Thursday evening that altered his present outlook: comments from Nike management on its earnings conference call and remarks from Starbucks CEO Kevin Johnson on “Mad Money.”

“This is … a clarion call for Apple; they make things there. If it’s good for Nike, good for Starbucks, it’s going to be good for Apple,” Cramer said on “Squawk Box.”

While Nike’s sales in Greater China were up just 17% in its fiscal fourth-quarter, which ended May 31, CFO Matt Friend said on the conference call that the company saw improvements in May and June after a weaker April.


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