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Cramer: Droid Disappoints, So Buy Apple

Apple stalled out after its most recent quarter, Cramer said during Monday’s Stop Trading!, but the stock is “ready to roll.”

Despite the hype, consumers seemed to shrug at Motorola’s new Droid smartphone. That handset’s pending release, along with the iPhone’s disappointing launch in China, has slowed AAPL , but Cramer said the stock is about to push higher.

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Cramer likened Apple to Google , which also paused after its earnings report, but should ramp on news that the company is buying AdMob, a mobile advertising firm.

Cramer reiterated his 2010 price targets of $300 and $700 for Apple and Google, respectively.

Anyone who believes in a commercial real estate bust should check the Federal Realty Investment Trust quarter, Cramer said. The company’s strong report seemed to indicate that the sector’s a lot stronger than many analysts think.

Elsewhere in the market, Cramer called Nordic American Tanker “a coiled spring,” saying he expects the company to rebound from its poor quarter. The company on Monday reported a third-quarter loss and cut its dividend. CEO Herbjørn Hansson, appearing on “Street Signs,” admitted the earnings were bad, but said that “the signals are there” to indicate a coming turn in world trade.

Regardless of the quarter, NAT was down only 40 cents, or about 1.4%, during Monday trading. Many shareholders buy Nordic American for the dividend, but the action today showed they agree with the CEO’s predictions and are willing to hang on to the stock.

“That says a great deal about the confidence that people have in the company,” Cramer said, adding that NAT would have dropped 10% to 15% if investors were concerned only with the yield.

Lastly, Cramer recommended Diana Shipping as a related play on world trade, saying the company “may be the best” in the group. If world bulk shipping turns, as Warren Buffett’s purchase of Burlington Northern Santa Fe seemed to indicate, “You could see a major run in Diana.”

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