Jim Cramer's Stop Trading! Eyeing Apple

IBM (IBM Quote) could pick up a quick 15 points with a long overdue CEO change, Jim Cramer said Friday on CNBC's "Stop Trading!" segment.

Cramer said Big Blue chief Sam Palmisano is on "a permanent intellectual vacation" and that the stock could easily drop 20% from a recent $94.50 if a new leader isn't selected. Cramer suggested helpfully that "maybe IBM could get a board of directors," since he said it's clear the Armonk, N.Y., company must not have one given Palmisano's continuing employment in spite of his sorry track record.

Cramer said the one tech stock he's looking at right now is Apple (AAPL Quote) ahead of Wednesday's postclose earnings report. Cramer said this is the last quarter before Apple's release of its much-anticipated iPhone, and buying the stock at a recent $90 is a good move considering the weakness of the competition. Cramer said Nokia (NOK Quote) has tacked on 6 points from its January lows largely because Motorola (MOT Quote) is sputtering and misfiring.