Cramer's Stop Trading! Apple's Good First Step (7/16/10)

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Includes: AAPL, GE
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Segment, Friday July 16.

Apple (NASDAQ:AAPL), GE (NYSE:GE)

While Consumer Reports said Apple's (AAPL) free device that will correct its reception problems is a "good first step," Cramer's response was "What more can you ask for?" He has thought from the very beginning that problems with Apple's antennae were "overblown" and has a sense that the company is on trial. However, Cramer thinks sales for Apple will be "up big" once people realize the device solves the reception problems.

Concerning the fall in the Dow on Friday, Cramer says he is not surprised; after the market's "parabolic moves," stocks were "cruising for a bruising."

GE (GE) was taken down on Friday because of disappointing revenue, but Cramer says GE reported the best quarter in two years, and thinks if it had reported on Tuesday instead of Friday, it would be up 58 cents rather than down the same amount.

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