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) -- It was the best of times and the worst of times, Jim Cramer told

"Mad Money"

viewers Wednesday as he compared today's divergence of


(AAPL) - Get Report

, a stock he owns for his charitable trust,

Action Alerts PLUS, and


(GOOG) - Get Report


Cramer said today's rally in Google and simultaneous decline in Apple should not come as a surprise to investors, as Google is already up 29% for 2013 while Apple has fallen 19%. He said the markets are concerned with what they're always concerned with -- valuing a company's future earnings.

In the case of Google, there's a lot to like as the company continues to outperform in search, while ramping up its Android mobile operating system and possibly monetizing YouTube in a big way for the first time. Meanwhile, Apple, well, no one but Apple knows what the company has planned.

Given all that Google has going for it, Cramer said it's easy to see why investors might be willing to pay up to twice the company's growth rate of 18% for its expected $47 a share of earnings. That would value Google upwards of $1,600 a share, he said. Looking at it another way, Google currently has the same valuation as


(CLX) - Get Report

, yet Google is growing four times faster.

So for the time being, Cramer concluded, expect Google's shares to continue to rise, while Apple will continue to flounder until the company can provide investors something to get them excited again.

Bull vs. Bear

When analysts duke it out, investors win, Cramer reminded viewers, as he pitted differing opinions on LED lighting maker


(CREE) - Get Report

against one another to see whether the bulls or the bears make the better case. He explained that just this week, one analyst lowered their price target from $66 to $59 a share on Cree, while later the same day, another raised their estimates from $62 to $73 a share.

Cramer said Cree is not the same company it was two years ago when he mistakenly recommended it. Back then, he explained, the company only made components for LED light bulbs, which at the time were slow in gaining traction. But now, thanks to an acquisition, Cree makes complete LED light bulbs and fixtures and is gearing up to become a major player in the space. That's why LED bulbs now account for 37% of the company's total sales.

So why the differing analysts? Cramer explained that while both firms did channel checks to see how Cree's products were selling, the bulls spoke with

Home Depot

(HD) - Get Report

, where Cree derives a third of its sales, while the bears spoke with agents representing everyone else.

At Home Depot, Cree's products were sold out, but at other locations, competitor


has been making retailers choose between Cree and themselves, with Phillips being the dominant player in the space.

Cramer said while Phillips may impact upon earnings in the short term, longer term he likes the company. That said, Cree now trades at 33 times earnings with a 16.5% growth rate, meaning its too expensive to recommend at current levels. On a pullback however, Cramer said he remains a fan.

Lightning Round

In the Lightning Round, Cramer was bullish on

Protein Design Labs

(PDLI) - Get Report


Ford Motor

(F) - Get Report


Berkshire Hathaway

(BRK.B) - Get Report


Skyworks Solutions

(SWKS) - Get Report



(SPWR) - Get Report


First Solar

(FSLR) - Get Report


Marathon Petroleum

(MPC) - Get Report


TravelCenters of America

(TA) - Get Report


Cramer was bearish on

Armour Residential

(ARR) - Get Report


3D Systems

(DDD) - Get Report


To watch replays of Cramer's video segments, visit the Mad Money page on CNBC


-- Written by Scott Rutt in Washington, D.C.

To email Scott about this article, click here:

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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL and HD.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC Universal or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.