Jim Cramer Calls Out 'Pretty Thick' Negativity on Apple, Palantir and Marvell: 'No Matter What They Say, It Isn't Enough'

CNBC’s Jim Cramer is not buying Monday’s selloff in Apple Inc. (NASDAQ:AAPL), Palantir Technologies Inc. (NASDAQ:PLTR) and Marvell Technology Inc. (NASDAQ:MRVL) as the tech slump stretches into a new week.

Tech Rout Isn’t Over

In a post on X, Cramer said that investors are piling “negativity” onto the three tech stocks and that it is “pretty thick.”

“No matter what they say, it isn’t enough…” he added.

The negativity when it comes to Marvell, Apple, Palantir is pretty thick… No matter what they say, it isn't enough…

— Jim Cramer (@jimcramer) November 2, 2026

Marvell shares fell more than 12% on Monday after it announced an all-stock deal to buy Lumentum Holdings Inc. for $115 billion, and the stock has lost about $70 billion in market value since reports of the deal surfaced on Oct. 28.

Last week’s two-day tech rout erased more than $600 billion in market value from Alphabet Inc. and Intel Corp. as investors punished cash-draining spending on artificial intelligence.

AAPL Beats, but Margin Guide Disappoints

Apple reported fiscal fourth-quarter revenue of $114.48 billion, above the $113.39 billion estimate, according to Benzinga Pro data, while earnings per share came in at $2.10 per share, versus $1.98 expected

Apple guided December-quarter gross margin to 45% to 46%, down from 47.9%, which included a 1-point tariff-refund benefit. It said most of the decline is expected to come from higher memory costs.

Futurum Equities’ Shay Boloor said the memory chip boom lifting Micron Technology Inc. and SK Hynix Inc. is squeezing Apple, with on-device AI likely to require even more memory per iPhone.

$AAPL said gross margins excluding tariff refunds were "down about 1 point sequentially, primarily driven by higher memory costs" extending a decline to 47% in September.

The irony is that DRAM boom benefiting $MU and $SKHY is squeezing Apple just as its push into on-device AI… pic.twitter.com/4DBXNaTT9C

— Shay Boloor (@StockSavvyShay) November 2, 2026

PLTR Bookings Slow

Palantir beat on both lines in the third quarter, reporting revenue of $2.31 billion against estimates of $2.18 billion and adjusted earnings of 44 cents per share against 41 cents.

The stock closed 3% lower and fell 2.99% in extended trading.

However, investors focused on the company’s U.S. commercial bookings, where growth in total contract value slowed to 11% year over year from more than 153% in the previous quarter.

“I genuinely don’t think anyone knows how high the ceiling is for this business yet,” Boloor said.

$PLTR CEO Alex Karp just said he thinks sees U.S. commercial revenue alone can reach $15B in 2028.

Meanwhile the market expects just ~$17.9B for the entire company that year… I genuinely don’t think anyone knows how high the ceiling is for this business yet. https://t.co/A8AuNedSTN pic.twitter.com/6FlvCZUt42

— Shay Boloor (@StockSavvyShay) November 2, 2026

Price Action: Apple’s shares closed 1.83% lower on Monday at $338.32 and fell 2.81% to $328.81 in extended trading on the results announcement after the bell.

Benzinga Edge rankings indicate Apple’s stock has a Momentum score on the 87th percentile and a Growth score in the 44th percentile.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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