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Cramer Remix: What you need to know about Apple

This week the talk of the tape was Apple, which fell about one percent on Friday following an earnings sell-off. And Jim Cramer says the action isn't over yet.

"Here's what you need to know about Apple: Until we get more negativity, until we see more analysts downgrade the stock — it's not going to find a bottom," Cramer said.

The good news is that investor eyes will shift to Warren Buffett on Monday as he speaks with CNBC after this weekend's Berkshire Hathaway annual meeting.

The Street recently did a study on how the market performs on the Monday after a Berkshire Hathaway meeting, when Buffett will appear on CNBC. It found that in the last 10 years, the market rallied on average 0.5 percent the day after the meeting.

The market, however, historically loses that gain by the end of the week. Meaning, there is a Buffett bounce that occurs but it does not last.

"Maybe save the ideas for later in the week when the rosy hue is long since forgotten," Cramer said.

Read MoreCramer's game plan: Trading the Warren Buffett love-fest next week


Another stock that rocked Wall Street this week was Amazon, when it blew away investors with earnings. It was clear to Cramer that the consumer is dead — unless he or she is shopping at Amazon.

Cramer was shocked when he heard how little penetration it has versus where it plans to go very quickly.

Does that mean all other retailers are done?

"I see an overreaction occurring right now, where all retailers are getting clipped and I think that is excessive," Cramer said.

Give it a few days, he added, and remember that retail will not be totally abolished by Amazon. Be ready to buy shares in retailers when they become oversold. It could take time, but retail is changing fast and brick and mortar is not going away.

Read More Cramer: Retail isn't dead—millennials are changing the game

Apparel and footwear company Columbia Sportswear had a rough day on Friday.

Despite a history of strong performance, Columbia's stock dropped almost 3 percent. Yet it delivered a strong quarter, with a 12-cent earnings beat from a 33-cent basis and a monster revenue beat.

So what the heck happened? Jim Cramer spoke with Columbia CEO Tim Boyle to find out.

"I found this decline pretty puzzling, and the only rational explanation that I can find is that despite giving solid guidance, management's commentary on the conference call may have been a bit too conservative and downbeat," the "Mad Money" host said.

Read MoreHow women are changing Columbia Sportswear: CEO

A UPS worker carries an Amazon box to be delivered in New York in July.
Eduardo Munoz | Reuters
A UPS worker carries an Amazon box to be delivered in New York in July.

After the Fed decided to raise interest rates in December, real estate investment trusts were negatively impacted. This is because higher interest rates make the juicy dividends of a REIT appear less attractive.

However, since then it has become clear that the Fed will be slow and deliberate in raising rates, and the group has bounced back.

EPR Properties is a diversified REIT that owns entertainment, recreation and education related properties. Recently it has decided to dip its toe into the casino space. Cramer spoke with EPR CEO Greg Silvers on what casinos mean for EPR's future.

"We've got the balance sheet, which is another thing investors occasionally miss about the company is we're going to be there for the long-term. The balance sheet is good," Silvers said.

Another group that has pulled back due to a market-wide stock rotation is the utilities.

"Here's the thing, as long as the Federal Reserve stays data driven and deliberative when it comes to raising rates, I bet the utilities will be able to bounce back," Cramer said.

This is one of the reasons why Cramer owns American Electric Power in his charitable trust. AEP owns the nation's largest power transmission network and has a power generation portfolio that serves more than 5 million customers in 11 states.

After reporting a less-than-stellar quarter, Cramer spoke with AEP's Chairman and CEO Nick Akins on what to expect going forward.

"When you look at the weather impact, it was a substantial 11-cents per share. So we are through with the winter, and we are moving into summer and it's still going according to plan. That is why we left guidance the same and that is why we reconfirmed our 4 to 6 percent earnings growth rate," Akins said.

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Pure Storage: "It's an interesting play. Remember, we did a piece about how we liked Equinix, EQIX ... Yours is interesting, I like mine better."

American Tower: "When you see a John Legere come on [T-Mobile CEO] and hear that Sprint has to be able to build out its whole network, that means you have to own the tower stocks. I'm not backing away. I have been staying long AMT the whole way."