With all the nefarious activity and outright chicanery taking place on Wall Street, Cramer’s amazed – no, outraged – that the U.S. Securities and Exchange Commission is worried instead about Steve Jobs’ health disclosures. Should we really be appalled that Apple’s legendary CEO, upon learning of just how severe his pancreatic cancer was, didn’t run to tell shareholders?
The SEC, and the press, is acting like this is Watergate, Cramer said during Monday’s Mad Money. Who knew what and when? Maybe Jobs should be given the benefit of the doubt here. Rather than assume there was a conspiracy to conceal his condition, why not believe he merely got sicker over time? What if the shock of Jobs’ situation took a while for him to digest? What if he was looking for a second opinion? Don’t these possibilities seem more likely? And even if there were a conspiracy to hide Jobs’ health concerns, aren’t there more important things for the SEC to worry about given the current state of Wall Street?
Apple will survive without Steve Jobs, Cramer said. Not to minimize the man’s contributions to that company, and 21st century technology, but Apple employs 32,000 people. The mass adoption of the iPod, the iPhone and Mac computers isn’t the result of just one person. So we can expect stellar earnings from Apple, just like we recently saw, in the post-Jobs era, if and when that time comes. And, yes, the stock can be bought here.
In the meantime, though, Cramer wants everybody to cut Jobs some slack. Let him deal with the cancer and try to get better.
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