Of all the tech stocks, big investors seem to like Apple (AAPL) the best.
The iPhone makers have a market cap of around $2.7 trillion, and CNBC's "Mad Money" host Jim Cramer thinks that their focus on and history of building long-term value makes them as insulated as possible against the market chaos caused by the debt ceiling conflict.
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"Compared to something like John Deere or Boeing, Apple‘s much more in control of its own destiny. It’s the best at what it does," Cramer, speaking on "Mad Money" May 23, said. "Apple takes something you didn’t even know you needed and turns it into something that’s indispensable. They’ve done this so many times because they’re focused on the long haul and the customer."
"They have an incredible sense for what you’re going to want."
Saying that no stock is immune to the short-term movements of the market, Cramer explained that, because of Apple's strong customer base and long-term vision, the company should be strong enough to "withstand the debt ceiling debacle, or the rate hikes, or the bank failures."
"The lifetime value of an Apple customer is worth more than any stream of revenue from any other customer product company in the world," he added.
This positive, optimistic outlook on Apple for its powerful consumer base is something that was echoed by famed investor Warren Buffett.
Speaking at Berkshire Hathaway's annual meeting earlier in May, Buffett called Apple a "better business than any we own."
"Apple has a position with consumers where they’re paying 1,500 bucks for a phone, and these same people pay $35,000 for having a second car," Buffett said. "And if they had to give up their second car or give up their iPhone, they give up their second car. It’s extraordinary.”
