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Apple analysts 'snookered' themselves, Cramer says

Tim Cook ‘played a good game,’ Cramer says

Jim Cramer said that Apple CEO Tim Cook "played real a good game" in the latest quarter.

Apple's stock surged 7 percent Wednesday after the company beat earnings and revenue estimates.

"The bottom line here is that the analysts thought that there was going to be a lot of price cutting because Apple couldn't sell its phones," Cramer said Wednesday on CNBC's "Squawk on the Street." "(But) Apple sold through rather well, service revenue was pretty good. So I'm going to say [analysts] snookered themselves."

He also noted that many analysts are attributing Apple's spike in stock to low expectations.

"It looks like Apple didn't build enough inventory. They sold through this large-form factor fund, but they still made a lot of money," Cramer said.

Cramer also mentioned Apple's Chinese market.

"China is challenging. Hong Kong is challenging. China is a problem, China is just not that good," Cramer said. "I think that [Tim Cook] reiterated again and again that it's a great market, but India is going to surpass that market in 2020."