And that blood lust may stem from the almost meteoric rise and subsequent fall that's transpired in a relatively short amount of time. A little over a year ago Apple stock was trading in the high $300's. In September of 2012 it touched $700.
And Cramer sees plenty of reasons why the selling pressure may endure.
- First of all, many people bought it without knowing how the stock market works or how this stock works in particular.
"The market cares about gross margins—how much money is left over after the cost of every dollar of sales—this quarter Apple's gross margin came in at 38.6%." Ironically, the Mad Money host said the results weren't too shabby. But Apple is an emotional stock.
- Second, you have lots of people who bought Apple when it was the undisputed king of smartphones.
"They now have to accept that there is a rival, Samsung, that's good enough so customers don't necessarily have to pay up for the iPhone," Cramer said.
- Third there are people who bought Apple because of the chart.
"It was a stock that kept going higher and outran price targets, so the analysts kept raising numbers. But once the stock started going down, the charts became your enemy, not your friend. And that means the same people who had to raise their price targets on the way up are now cutting them on the way down," Cramer said.
- Fourth, long-term holders have been taking profits.
"After the incredible run, it's only prudent," said Cramer. In 2009, the stock was under $100. "Many sellers have simply been worn down by the price action, which has been hideous."
All told, there are plenty of reasons to sell. But – the stock is relatively cheap and that's a good reason to buy. As a result Cramer added that perhaps the best thing an investor can do is just forget about Apple, all together.
"It's become the equivalent of an eclipse that you can't stop looking at," he said. "Before long your retina's burned out and you can't see anything that's actually worth seeing."