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NEW YORK (
) -- "This is a crazy, ridiculous time in the markets," Jim Cramer told the viewers of his "Mad Money" TV show Thursday.
He said it's a time where the fundamentals of individual companies don't seem to matter, and stock prices trade on the whims of China, Greece and the price of oil,
For a company like
, a stock which Cramer owns for his charitable trust,
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, Cramer said it makes no sense that the stock rallied today, on positive market news, and not over the last few days, when there was plenty of Apple news.
Cramer said the markets ignored stories of how Apple may sell TV shows on iTunes for just 99 cents, how the company now commands 25% of the smartphone market, and how Apple and its growing base of high profile stores have made it the fifth largest electronics retailer in the country. Instead, the stock languished. But today, on a rally in copper and positive news from Greece, Apple soared, he said.
Cramer said Apple is not a cyclical stock, and doesn't need worldwide growth to prosper. He said investors should have been using the down days to buy Apple, on the hopes that the company's fundamentals will once again matter.
Cramer said he believes the U.S. economy is growing, and by years' end will be creating jobs, albeit slowly. He said it's silly that all stocks, regardless of their fundamentals, are trading in lock step with global economic news. Apple, he said, has fabulous fundamentals, and deserves to be going up. So when the markets aren't paying attention, investors need to be buying.