It seems everyone is focused on Apple ( AAPL), but if you're serious about making money, consider some stocks currently out of favor, Jim Cramer told viewers of his "Mad Money" TV show Thursday.

"I want to look at companies that have failed and what management has and can do for them," Cramer said. "That's why its time to look at Sony ( SNE)," while everyone is focused on Apple.

These two stocks are "polar opposites," he said. Sony looks like it can't do anything right, while Apple can do no wrong. Sony is being "written off," which is why Cramer believes that it's time to sit down and take a good, hard look at it as a value stock.

Sony is a company which is worth $45 billion, but it should have $70 billion in revenue, he said. Meanwhile, Apple is worth $82 billion and is supposed to have $23 billion in revenue.

Despite being a "revenue machine," Sony is still unloved, Cramer said.

Looking at these numbers, anyone can see that Sony is too cheap and would obviously be worth more if it was to break itself up, he said.

But Sony doesn't necessarily need to break itself up for the stock to go up, Cramer said. All that needs to happen is for the Street to recognize that if it did, the stock would be worth even more.

After calculating and computing, Cramer came up with multiples for Sony's gaming, financial, film and electronics businesses. Once Cramer had a value for each division, he determined the stock's breakup value to be $61 to $72.

Moreover, the catalyst to get into this stock now is that it reports on Jan. 30, he said.

Cramer recommended Sony to market players looking for a value play in the consumer-electronics sector. In addition, he said that Sony should come under increasing pressure to break itself up, which would be "icing on the cake."

Blockbuster Satisfaction

A second option for a loser company is Blockbuster ( BBI), Cramer told viewers.

He believes that this stock is still a buy, even though it is up significantly from when he recommended it in November. Netflix ( NFLX) was previously crushing it, but Blockbuster's CEO John Antioco struck back with an online business, Cramer said.

In addition, now Blockbuster customers have the luxury of dropping off their online-rented DVDs at the store, which has given this stock a "big leg up," he said.

Further, not only did Blockbuster add 700,000 customers in the last 60 days of 2006, but it also reported that its customer satisfaction is at an "all-time high," Cramer said.

Therefore, he believes that the stock no longer deserves to be in the "under $10 cohort." Cramer said 2007 "will be the year of Blockbuster" and the year of its CEO being "heroic."

Cramer welcomed Blockbuster's chief to the show and asked him why he didn't agree when everyone said that his company was finished.

"We've always had a great brand and great retail locations," Antioco responded. Blockbuster has been laying the groundwork for this move the last few years, he went on to say.

It started its online business at the end of 2004, and recently the company has launched its Total Access campaign, where customers can return an online-rented DVD by mail or exchange it in-store for a free movie rental.

When Cramer asked how the company knew that its customer-satisfaction rate is at an all-time high, Antioco said Blockbuster measures it on a weekly basis.

Blockbuster asks if customers got what they wanted, how the service was and when customers intend to come back again, he said.

The company's been doing it for five years, and the satisfaction rate has been going higher -- especially since Blockbuster got rid of its late fees, Antioco said.

Cramer said that he expects Blockbuster to go much higher and said it is not speculative any more.

Sell Block

In his "Sell Block" segment, Cramer told people it's time to take some profit in IntercontinentalExchange ( ICE).

He said he prefers the NYSE Group ( NYX) to Intercontinental, even without Intercontinental's current "supply pressure" problem.

Cramer also advised market players to sell InnerWorkings ( INWK). Although there is "massive insider selling" going on with this stock, Cramer said that if he owned it he would take a loss and sell it now. "This is a situation where we'd rather cut and run," he said.

Further, Cramer suggested viewers sell Atherogenics ( AGIX) but buy more of J. Crew ( JCG).

Hoist the Flag

Mark Shapiro, the CEO of Six Flags, ( SIX) joined Cramer on the show, and Cramer congratulated him for selling seven of his company's theme parks in a $312 million deal.

Now, with gas down "gigantically," Cramer asked Shapiro what this might do for Six Flags.

It is going to be "fantastic" for business, Shapiro responded. He said that Six Flags is going to have a "solid" year and that the early season indicators have been very "strong."

Shapiro said he understands that his company has a lot to prove, but he is confident that Six Flags "is going to earn itself a new reputation."

Cramer said Six Flags is another $5 to $6 stock that he believes viewers should add to their speculation baskets.

To view Cramer's interview with Mark Shapiro, please click here .

In his "Sudden Death" round, Cramer was bullish on Toyota Motor ( TM) and Capital One Financial ( COF), which he owns for his charitable trust, Action Alerts PLUS .

Lightning Round

Cramer was bullish on Eagle Materials ( EXP), Baidu.com ( BIDU), Texas Roadhouse ( TXRH), Darden Restaurants ( DRI), McDonald's ( MCD), Res-Care ( RSCR), CarMax ( KMX), Savient Pharmaceuticals ( SVNT) and Riverbed Technology ( RVBD).

Cramer was bearish on Corn Products International ( CPO), HealthSouth ( HLS), Energy Conversion Devices ( ENER) and Seattle Genetics ( SGEN).

For more of Cramer's insights during the Lightning Round, click here .

Want more Cramer? Check out Jim's rules and commandments for investing from his popular book by clicking here.
At the time of publication, Cramer was long Toyota Motor, NYSE Group, and Capital One Financial.

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