CNBC Pro

Jim Cramer says he feels better about Apple's China exposure after Nike earnings

People wearing face masks walk past an Apple store in Beijing on March 17, 2020 in Beijing, China.
Fred Lee | Getty Images

CNBC's Jim Cramer indicated Friday he's feeling more comfortable about the geopolitical risks facing U.S. companies with important exposure to China such as Apple and Tesla.

Cramer pointed to a pair of developments Thursday evening that altered his present outlook: comments from Nike management on its earnings conference call and remarks from Starbucks CEO Kevin Johnson on "Mad Money."

"This is ... a clarion call for Apple; they make things there. If it's good for Nike, good for Starbucks, it's going to be good for Apple," Cramer said on "Squawk Box."

While Nike's sales in Greater China were up just 17% in its fiscal fourth quarter, which ended May 31, CFO Matt Friend said on the conference call that the company saw improvements in May and June after a weaker April.

More In CNBC TV Picks

Behind the big Apple downgrade: Analyst who made the call reveals why the stock is in trouble
CNBC ProBehind the big Apple downgrade: Analyst who made the call reveals why the stock is in trouble
Wharton's Jeremy Siegel says the market bottom is in and a 'soft landing' is still possible
CNBC ProWharton's Jeremy Siegel says the market bottom is in and a 'soft landing' is still possible
Mohamed El-Erian says Fed should keep focus on inflation even with economy 'weakening really fast'
CNBC ProMohamed El-Erian says Fed should keep focus on inflation even with economy 'weakening really fast'