Most analysts had expected Apple to sell about five million between its 5S and 5C iPhones. However, the company almost doubled that figure by selling nine million devices over the opening weekend.
Cramer said this is going to cause a lot of analysts to raise their estimates and upgrade the stock, and this could be the "launch pad" for a higher stock price. Apple is a holding in Cramer's charitable trust, Action Alerts PLUS.
Cramer also said that while the current debt ceiling is set to expire on Sept. 30, don't expect the government to shut down when the new fiscal year begins Oct. 1. The government will keep going, he said, but that doesn't mean there won't be a market pullback. That's why AAP has been raising a lot of cash to be ready to buy, he said.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.