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Stock Market Today With Jim Cramer: Apple Is a Cheap Buy

Jim Cramer discusses the latest stock market news including Apple's latest AirPods Max, the first covid-19 vaccine rollout and markets on Tuesday.

Stocks rose Tuesday as Wall Street weighed prospects on a near-term aid plan for the struggling U.S. economy and the world witnessed the first person get inoculated with a Covid-19 vaccine.

The Dow Jones Industrial Average rose 112 points, or 0.38%, to 30,159, and the S&P 500 gained 0.25% and recorded an intraday higher earlier in the session of 3,703. The Nasdaq gained 0.19%.

TheStreet's Katherine Ross discussed breaking news in the stock market. Cramer spoke about Apple's latest AirPods Max, the first covid-19 vaccine rollout and markets on Tuesday.

Apple: Buy Or Sell?

Tech giant Apple  (AAPL) - Get Apple Inc. Report unveiled its first over-ear wireless headphones with high-end audio technology, the AirPods Max, on Tuesday.

At $549, the headphones will be the most expensive offered by Apple, costing even more than its Beats Pro over-ear headphones, which cost $400. Apple's normal in-ear AirPods start at $159, while its AirPods Pro line starts at $249. 

Cramer said don't trade Apple stock. "I have to try the earbuds out before I buy these. The reason I say that is because I love my Apple noise-canceling AirPods. But maybe these are better. One of the things that I have learned about Apple is that they tend to have the thing I want without me knowing it. This is why I think Apple stock is way too cheap."

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First Covid-19 Vaccine Dose

On Tuesday, the U.K. became the first Western country to start distributing a Covid-19 vaccine developed by Pfizer  (PFE) - Get Pfizer Inc. Report and Germany’s BioNTech  (BNTX) - Get BioNTech SE Report.

Cramer spoke about the coming vaccine glut. "There will be a glut in the first quarter and that's because so many companies are making [coronavirus] vaccines. I believe a lot of the rally that we have had is in anticipation of the vaccine glut. It's exciting because what's going to happen is that the tyranny of the disease is going to end."

Markets on Tuesday

Cramer said there is a belief that the great housing boom is over. "If you look at a stock that may be in command right now is Toll Brothers  (TOL) - Get Toll Brothers, Inc. Report. The stock is down four bucks and people are saying maybe the great housing boom is over because we have a vaccine coming. And everyone who has to move has moved. And the price of housing is going down. That's something that Toll Brothers flagged last night in their release. I think that is the source of the weakness today and I say don't sweat the program there are many other areas where the baton has been handed to. Housing is not the only one."

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