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Cramer: When Apple will stop being the worst loved stock in the universe

Any time there is anything positive said about Apple, the stock quickly becomes condemned. There was no clearer example of this, to Jim Cramer, than the $1 billion stake that Berkshire Hathaway just took in the company.

Within minutes of learning about Berkshire's 9.81 million-share position in Apple, Cramer heard rumors that it wasn't a position under Warren Buffett. Many thought it was either under Todd Combs or Ted Weschler, two investment managers who help oversee the Berkshire Hathaway portfolio.

In other words, they didn't attribute the position to even count under the name of the Oracle of Omaha.

"I say, give me a break. This is the first time I can ever recall that you have to asterisk a Buffett buy," the "Mad Money" host said.





Apple CEO Tim Cook
Justin Sullivan | Getty Images
Apple CEO Tim Cook
"The loving hate affair with Apple will continue." -Jim Cramer

Cramer admitted that Apple's stock has been a dog in the past year. Still, he remains strong in his position that the stock should be owned, not traded. He thinks it is a great company with amazing prospects.

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But what seemed strange to Cramer was that the same people who claim to love it also have antipathy toward it. Analyst Tony Sacconaghi rated Apple as an outperform for ages. Yet, his commentary on the conference call and his research made Cramer think he loathes it.

"It is the most faux buy recommendation I can ever recall," Cramer said.

None of the positives surrounding the stock seem to resonate. Instead, investors are focusing on CEO Tim Cook's fence-mending trip to China and his upcoming trip to India. Instead of noticing how easy it was for Cook to invest $1 billion in Didi, the Uber of China.

Cramer thinks nothing matters right now for the stock because the reluctant bulls on Apple must downgrade it before the stock can stabilize. It is part of the process that when a company misses, there is a sea of downgrades, a lower share price, and then when the worst is built in — it is upgraded.

"Until that happens, all I can say is, the love-hate affair with Apple will continue," Cramer said.

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