When the stock of the biggest company on earth, Apple, rallied more than 6 percent on Wednesday — it was clear to Jim Cramer that analysts got it wrong.
Somehow the company that just sold one billion iPhones managed to fake-out almost everyone on Wall Street.
"I think I have solved the mystery. The chief pillar of the bearish case on Apple was the looming shortfall in cellphone sales," the "Mad Money" host said.
When Cramer sat down and read through the commentary from analysts, he found it filled with what he called "faux buy recommendations." These were analysts who already had one foot out the door, and made the assumption that because Apple hadn't ordered enough chips to make a lot of phones, there must not be demand.
Cramer believes all the analysts did was to stitch together commentary from Apple's usual suppliers, even though suppliers must mask results in order to keep Apple business.