The FBI has called for the company to unlock the iPhone used by one of the suspects in the San Bernardino attack, the Wall Street Journal reports. This would require Apple to create a "backdoor to the iPhone," which is a threat to data security, Apple CEO Tim Cook said in a letter last week.
The disagreement between the FBI and Apple hasn't hurt the company's stock price, Cramer said. Apple's stock has been boosted by the upcoming release of the iPhone 7, he added.
"Apple is actually not losing the PR war," Cramer said. "Apple's stock is indicating that the business must be doing well."
However, the right to privacy may ultimately be trumped by the FBI's ability to do its job as law enforcement, Cramer added.
Apple stock is down by 0.41% to $95.71 in midday trading on Thursday.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, increase in net income and growth in earnings per share. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: AAPL