# Apple upgraded to buy, Cramer warns wait until CEO change

**Published:** 2026-08-17T18:56:09.327Z  
**Topic:** S P 500  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/e3f05225-9c41-491c-b696-f235caaa5761

Apple upgraded to buy with $400 price target, up from $260; Cramer says hold until CEO transition, while Micron and Intel jump 6% and 3% on chip news.

Apple was upgraded to “buy” by Rothschild, which lifted its price target to $400 from $260, a 54% increase, even as Jim Cramer cautioned investors to hold off buying until Tim Cook’s September 1 exit as CEO [1].

| At a glance | |
|---|---|
| Apple price target | $400 (up from $260) |
| S&P 500 | dipped on Monday |
| Micron stock | +6% |
| Intel stock | +3% |

## Upgrade and Cramer’s stance  
Rothschild’s upgrade reflects expectations that a premium‑priced foldable iPhone and a potential Nvidia partnership could unlock value not yet priced in by the market [1]. The new target of $400 represents a 54% lift from the prior $260 level, signaling a markedly more optimistic outlook. Despite the upgrade, Cramer warned that the upcoming CEO transition—Cook stepping down on Sept. 1—could prompt analysts to downgrade the stock, and he would only consider buying after that event [1].

## Chipmakers rally on policy and insider moves  
The same morning meeting saw semiconductor holdings surge: Micron rose 6% after Commerce Secretary Howard Lutnick indicated the administration would not back Apple buying memory chips from China, suggesting a demand boost for U.S. memory suppliers [1]. Intel gained 3% following disclosure that CEO Lip‑Bu Tan purchased additional shares, a signal of insider confidence [1]. Cramer highlighted these two as his “two” tech bets, emphasizing their relevance to data‑center and memory markets [1].

## Market backdrop  
Broader equities were pressured as the S&P 500 slipped, driven by President Donald Trump’s war‑related remarks and a senior Iranian official’s threat to escalate conflict, alongside lingering concerns from last week’s weak retail sales and rising bond yields [1]. Oil prices edged higher amid the same Middle East uncertainty, adding to the “recipe for selling” that Cramer described [1].

## What to watch  
- Tim Cook’s official departure on Sept. 1 and any subsequent analyst revisions to Apple’s rating.  
- Upcoming U.S. trade policy statements that could affect Apple’s sourcing of memory chips from China.  
- Quarterly earnings reports from Micron and Intel for signs of sustained demand growth.

The upgrade underscores a belief that Apple’s upcoming hardware and AI initiatives could justify a higher valuation, yet Cramer’s caution highlights the market’s sensitivity to leadership changes and geopolitical risk. The coming weeks will reveal whether the chip rally translates into broader tech strength or remains an isolated bounce.

## Sources
1. CNBC — [Cramer's advice on Apple after analyst upgrade. Plus, why 2 chipmakers are up big](https://www.cnbc.com/2026/08/17/cramers-advice-on-apple-after-upgrade-plus-why-2-semis-are-up-big.html)
2. 247wallst — [Cramer Pushes Back on Apple’s Sell Call — Here’s Why Investors Should Care - 24/7 Wall St.](https://247wallst.com/investing/2026/07/15/cramer-pushes-back-on-apples-sell-call-heres-why-investors-should-care/)
3. Aol — [Cramer Pushes Back on Apple’s Sell Call — Here’s Why Investors Should Care - AOL](https://www.aol.com/articles/cramer-pushes-back-apple-sell-124745000.html)

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Cite as: TrendWatcher, "Apple upgraded to buy, Cramer warns wait until CEO change", https://www.trendwatcher.in/article/e3f05225-9c41-491c-b696-f235caaa5761