As the stock traded to $93 from $112, Cramer refused to participate in the widespread market hate for Apple. He understood that the fundamentals of the company had not changed, aside from the stock becoming cheaper. Cramer quickly learned that focus needed to shift toward Apple's growing service revenue stream that could eventually change the game.
"I didn't think anyone other than the most nimble traders would be able to get out of Apple and then get back in again," Cramer said.
Trading Apple did not seem worth the risk, even if Carl Icahn bailed from his position and respectable analysts on Wall Street said the company's best days had passed.
On Thursday, it was confirmed that the new iPhone 7 — which many called a flop — is actually sold out worldwide. To say that sales are better than expected is a dramatic understatement, Cramer said, especially considering the bullish language from Sprint, T-Mobile and AT&T.
When CEO Tim Cook came on "Mad Money" in May with the stock at $93, Cramer asked him all the burning questions that Wall Street wanted to know. The interview only strengthened Cramer's resolve to own Apple, not trade it.
To clarify, Cramer did not say that Apple will roar to $140. In fact, he blessed investors who want to sell Apple on Friday and take a 22-point gain from when he spoke to Cook.
Meanwhile, Apple's main competitor Samsung has some phones that catch on fire while they charge.
"Apple makes the best products in the world, although admittedly when your competition is an incidental arsonist, you have some easy compares," Cramer said, "As long as the financials are as strong as they are, as long as the stock remains much cheaper than the average name in the S&P 500, my philosophy remains the same: don't trade it, own it."