Jim Cramer Says He “Underestimated” Apple’s iPhone 17 Sales

Group 1 - Apple Inc. reported a "magnificent quarter" with significant top and bottom line beats, driven by unexpected demand for the iPhone 17, which generated $85 billion in sales, surpassing Wall Street's expectation of less than $79 billion [1] - The company is facing challenges regarding rising memory prices, which will be discussed in future calls [1] - The overall performance suggests a recommendation to hold the stock rather than trade it [1] Group 2 - Apple manufactures and sells a range of devices including the iPhone, Mac, iPad, and wearables, supported by its app ecosystem, AppleCare, and cloud tools [2]