Despite its ability to evade short-sellers on its skyrocket up, Jim Cramer said investors should wait to buy Apple's stock because of analysts using one word to describe its next phone release: supercycle.
"That's been the kiss of death for the last two supercycles, the coal super cycle in 2011 and the fracking sand supercycle in 2014, both being called right before coal and then oil collapsed," the "Mad Money" host said. "I hate the term. It creates ridiculous expectations."
For now, the Apple shorts have been stifled as the stock held up even with Samsung's S8 release. But Cramer said to watch for reviews of Apple's next phone if you're itching for the next short opportunity.
"If you were ever going to short Apple, you'd have to wait until the real Apple bar-raisers express their disappointment in the eighth iteration. And they will, believe me. We just don't know from what level," Cramer said.
"The net impact here is that when the shorts are wrong, they create a wave effect of fierce buying that's like a a huge burst of acetylene on an already-lit fire. That's a big part of what's been happening here with some of these huge market capitalization Nasdaq stocks that just seem to levitate almost daily," Cramer said.
See Apple's success, or take Amazon, the e-commerce powerhouse that is spending all over the place and fueling its burgeoning stock price through innovation and efficiency.
"We basically want the company to grow revenues more than show profits and that's exactly what it's doing. This record-breaking move has been made on the backs of the short-sellers who thought, wrongly, once again, that Amazon's growth had finally begun to peter out," Cramer said.
So while Cramer does not think shorting is a bad strategy, having practiced it for years at his old hedge fund, he does believe it can occasionally result in serious damage to companies, or in a surge of buying like we have seen in March.
"Some will call it a blow-off in these names. Me? I just say the shorts got the wrong side of the trade," he said.
Some stocks, however, have been hit hard despite the market's upward trajectory. But even though the stock may be spiraling, Lululemon Athletica CEO Laurent Potdevin has a proactive approach to saving the Canadian retailer's shares and reputation.
Potdevin told Cramer in a Thursday interview that since Lululemon began seeing the weaker results that sent its stock plunging after Wednesday's earnings report, the company has been flexing its creative muscle and introducing new products and colors to their mix.
"I feel very confident about the steps that we've taken and how quickly they've had an impact on our performance," Potdevin told Cramer. "We've seen [an] instant pickup in our performance."
Cramer also caught up with Honewell's outgoing CEO Dave Cote for a look into how the industrial giant managed to hit new highs under his leadership.
One of the most stunning aspects of the company was how well it outperformed its competition during the financial crisis that started in 2008, when Cote was CEO.
Cote told Cramer on Thursday that by focusing on the company's three main constituencies — its customers, its employees, and its shareholders — his team was able to prioritize its responsibilities and help the company thrive how it could.
"We took a vision right from the beginning that said, 'Okay, this really sucks. It just does. And that's why they call it a recession and they don't call it a party. So we're all going to work harder than we ever did before and it's going to seem very unrewarding,'" Cote recalled.
"In one fell swoop ConocoPhillips confirmed a lot of what's become the conventional wisdom in the oil patch: the price of crude's not going to roar higher any time soon, even as it rallied nicely again today, climbing back over $50," the "Mad Money" host said.
The oil glut is here to stay, and if you're a daring investor, Cramer said Cenovus' new tar sands essentially make its stock a call option on oil prices.
"Personally, though, I'd much rather own an almost-Canadian-tar-sands-free Conoco than a debt-laden play on that now-out-of-style project," Cramer said.
In Cramer's lightning round, he sped through his take on some of his callers' favorite stocks:
Advanced Micro Devices: "We've liked it now for about 100 percent and we're not giving up. We liked the fixed balance sheet, we like that all-new line of chips, we like the fact that they've got gaming chips. It's a junior Nvidia. Not going to be as good as Nvidia, but a junior. Nvidia's starting to get jiggy here."
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