The United Arab Emirates’ ban of Research in Motion’s BlackBerry e-mail, messaging and Internet services, starting in October, is just the “tip of the iceberg,” Cramer said during Monday’s Stop Trading!. China could likely take up similar measures, and there are reports that Saudi Arabia will do so as well.
But Cramer also worried about RIM’s relationships with carriers. Verizon is happy with Motorola’s Droid handset, while AT&T still holds an exclusive deal with Apple for its uber-popular iPhone. RIM’s popularity with distributors, however, seems to be fading, he said, and the company needs that support to drives sales.
“The love is gone on RIM,” Cramer said. “This is the only tech stock I know that’s down today, and this is one of the great tech rallies that we’ve seen.”
On a related note to China, Cramer called Google a “damaged story” because of its battles with the Chinese government over censorship, leaving Baidu.com to take market share.
“I don’t think Google is the great growth company that it once was,” Cramer said.
In Europe, Greece, Spain and Poland turned out to be some of the best-performing markets on the Continent in July. While that may sound surprising given the crisis there for much of the spring, Cramer said there was “a lot of good that happened in a short amount of time” to turn things around. Now, banks stocks like Banco Santander and Banco Bilbao are up enough that they could hold “gigantic equity offerings” if they needed to raise capital.
Finally, Cramer said Standard & Poor’s upgrade of Ford Motor’s credit rating was “additive to earnings,” as it means Ford can offer cheaper financing to customers and make more profits per car.
“This is a virtuous circle,” Cramer said, “in the same way of how horrible it was when they were cutting ratings.”
When this story published, Cramer’s charitable trust owned Apple.
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