"In some ways even Apple misjudged how truly strong its cellphone sales were, and it is hitting a reset button. A reset down, as estimates for both phones and earnings are going to come down hard tomorrow," Cramer said.
While there was a cushion to the earnings with the announcement of a dividend boost and a buyback, Cramer thinks many investors may give up on Apple and assume it is a one-trick pony.
"I have been saying the outlook will be tough. It was that, and then some," he added.
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Cramer expects the pain from Apple to reverberate through the entire tech cohort on Wednesday, especially the stocks that did not go down when Alphabet reported. This includes Twitter, which provided a downbeat forecast on Tuesday.
"I want to own Apple for the iPhone 7. Not changing my long-term view," Cramer said.
However, Cramer still found many ways to win in the current market environment, especially for oil.
Pioneer Natural Resources reported a strong company, which prompted the stock to rise 7 percent Tuesday to $165. In the beginning of the year, Pioneer conducted a secondary offering at $117.
"If Pioneer has that kind of opportunity, then I suggest you look at Concho Resources and Cimarex Energy, which both have similar prospects and both, like Pioneer, have already done stock deals to raise capital," Cramer said.
Cramer also pointed to the bank stocks as possible opportunity, especially as he thinks there could be a consolidation coming for the group.
Ultimately, with so many ways to win, Cramer won't just focus on Apple and technology. Not when there are so many opportunities out there thanks to rebounding commodity prices, rising defense budgets, takeovers and a weaker dollar.
"I say let's stay positive even as we know that a portion of our portfolio remains in the house of pain," Cramer said.