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Cramer: Apple's iPhone 'batterygate' issue doesn't matter and investors shouldn't sell

  • Apple's iPhone battery problem isn't a big deal and investors shouldn't sell their stock, CNBC's Jim Cramer says.
  • "I think this battery life issue is a canard. I think it doesn't matter. It drove the stock down, it changed the chart," he adds.

Apple's iPhone battery problem isn't a big deal and investors shouldn't sell their stock, CNBC's Jim Cramer said Tuesday.

The tech giant announced customers can now replace batteries on the iPhone 6 or later models for $29. It came after the revelation that its software slows down older phones to protect battery stability.

"How many people were really affected?" asked Cramer, whose charitable trust owns shares of Apple. "I think this battery life issue is a canard. I think it doesn't matter. It drove the stock down, it changed the chart."

"If you're going to base your selling on 'batterygate' ... I mean batterygate?" Cramer said. "No!"

Apple's stock moved lower last week after a report said the company would be slashing its sales forecast for the iPhone X in the quarter.

Cramer suggested investors should ignore reports and surveys about the popularity of Apple's newest flagship smartphone model, the iPhone X.

"We don't know," said Cramer, host of CNBC's "Mad Money." "I mean the surveys have gotten people out [of the stock] at $90, $100, $120. I can go through what the surveys do."

"There is not a way to gauge how these phones are doing based on the few weeks that they are out," Cramer continued. "I mean I'm tired of this. ... There are people itching to sell."

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