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Cramer: Apple's Free iPhone 4 Case Will Increase Sales

Friday, 16 Jul 2010 | 3:59 PM ET

Consumers Reports called the free case offered by Apple to correct reception issues with the iPhone 4 a "good first step," but Cramer on Friday's Stop Trading! wondered "What more could you ask?"

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Mad Money host Jim Cramer shares his stock picks with CNBC's Amanda Drury.

"This is not a serious problem," Cramer said of Apple's annentae issues, adding that concerns over reported reception problems are overblown. "They can take it back for Heaven's sake. I mean, you don't have to own it."

The case should correct any reception problems, Cramer said and as a result, he expects sales will be "up big" next week.

Cramer also praised Apple's CEO Steve Jobs, who made the announcement at a rare news conference from the company's Silicon Valley headquarters. For Jobs to make the announcement, he said, that gives the consumer confidence that the fix will work.

Shifting gears, Cramer commented on the market overall. After seven-straight days of gains, he is not surprised the markets struggled to push higher Friday. He described it as a parabolic move, where, moves higher typically end with a "bruising." When the S&P 500 closed above +5, he typically shorted. The Mad Money host said people sold on the highs, which is what happens when we have a good run.

One widely-held stock, General Electric , reported disappointing revenue. But Cramer, who owns registered stock units of GE, said the company had the "best quarter in two years." Had the company reported Tuesday, when investors felt optimistic and the markets were trading higher, Cramer thinks GE would be trading up 58 cents instead of just the opposite. Market sentiment sometimes makes all the difference, he said.

General Electric is the parent company of NBC Universal, which operates CNBC. Cramer has registered stock units of GE. Cramer's charitable trust owns Apple.

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