"The bane of this market is not tariffs or interest rates or inflation; no, the real killer is great expectations," the "Mad Money" host said on Tuesday. "Apple is truly the vast exception to the rule."
But after Tuesday's closing bell, the largest company in the world proved them wrong.
"The company sold more iPhones than most of the bullish analysts thought, including the X, which the community had derided endlessly," Cramer said after he and CNBC's Josh Lipton spoke with Apple CEO Tim Cook.
On the call, Cook touted the success of the iPhone X and spoke to the strength of Apple's sales in China, shrugging off negative estimates that had emerged ahead of the quarter.
So, in a market where analyst sentiment going into the quarter can seem way too grim — or, conversely, way too optimistic — Cramer asked investors to remain cautious and do their own homework.
"[Apple's] estimates and any enthusiasm that had once been generated by the largest company in the world had long since diminished," he said. "For the vast majority of stocks, though, it's quite the opposite. I'm saying that Apple is the outlier. Many stocks have kind of just been set up for disappointment because, totally unlike Apple, there's been endless number bumps but, more importantly, endless upgrades."