Cramer's 'Mad Money' Follow-Up: Apple

Jim Cramer says the best way to play the tech rally is with the best stock in the Nasdaq: Apple.
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On Tuesday's "Mad Money" show, Jim Cramer said that the way to play the continuing rally in tech is with the Nasdaq's best stock, Apple (AAPL) - Get Report. Cramer set an $180 price target on the stock.

On Wednesday, Apple closed up $1.46, or 1.1%, at $140.95.

Cramer spoke with

CKE Restaurants

(CKR)

CEO Andy Puzder. On May 22, Cramer had recommended CKE at $7.73 a share, and the stock was already up 16% on Tuesday. Puzder addressed CKE's growth plans, which includes the company's first New York-area locations.

On Wednesday, CKE added 51 cents, or 5.7%, to close at $9.54.

Cramer took

AIG

(AIG) - Get Report

CEO Ed Liddy down from his "Wall of Shame" after the announcement that Liddy was leaving the company. Nevertheless, Cramer said there is nothing that could make AIG a stock he'd want to own, calling the common shares worthless.

On Wednesday, AIG slipped 9 cents, or 5.8%, to close at $1.47.

In his

"Lightning Round" segment

, Cramer said that he prefers

ConocoPhillips

(COP) - Get Report

and

BP

(BP) - Get Report

to

Exxon

(XOM) - Get Report

, which he said is "over-owned."

On Wednesday, Exxon lost 84 cents, or 1.2%, to $72.08, while Conoco closed down $2.30, or 4.8%, at $45.63, and BP slid $1.57, or 3%, to close at $50.75.

He said that

Altria's

(MO) - Get Report

too risky, which is why he sold it for his

Action Alerts PLUS

charitable trust. "I think it's going to be an uphill battle," he said.

On Wednesday, Altria closed down 12 cents at $17.

At the time of publication, Cramer was long BP and Conoco.

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for

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