Cramer Remix: My loneliest defense of Apple yet


After a whiplash in the major averages on Wednesday drove the stock market to soaring highs before it fell to tumultuous lows, CNBC’s Jim Cramer realized he needed to reevaluate.

“I realized it’s time to adopt a new view about this market,” the “Mad Money” host said. “We have a 9:30 to 11:00 a.m. session. Then another one goes from 11:00 to 2:00, and then the final one covers the last couple hours before the close. This is the only way that we can make sense of what’s currently going on.”

This time, Cramer decided to do the homework for investors to explain the peculiar intraday decline that plagued equities for several hours.

One leg of weakness came from surveys of Apple’s suppliers that indicated iPhone sales may have declined since last quarter.

While Cramer had no true insights about sales for the latest iPhone or its components, he admitted that it was possible they were not up to par and that investors wouldn’t be hurt taking profits in their Apple positions.

“However, in what may be the loneliest defense of Apple I’ve made in ages, let me just say that even if sales are weaker, this company’s been able to triumph over moments of weakness in the past,” he argued. “Remember, Apple’s less a tech stock than a consumer products company with [a] terrific revenue stream and fabulous technological prowess. But that doesn’t mean it never gets hit.”



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