Cramer's Stop Trading!: Apple, JPMorgan


NEW YORK ( TheStreet) -- On his Thursday Stop Trading! segment on CNBC, Jim Cramer was forgiving of Apple ( AAPL) over its lack of details regarding a press conference presumably about the iPhone4 antenna problems.

"I'm not excusing their behavior, acting like they're not a public property," he said. Yet, "I don't care if they treat their shareholders horribly. The fact is they make you money. I'd take performance any day of the week. Don't let form trump substance." Cramer said he doesn't want to be Steve Jobs' best friend. "I just want to make money from him."

For Cramer, what matters more than anything else when it comes to Apple is that it's "putting out the best products in the world." He hears that the iPhone4 antenna is in fact one of Apple's best technologies out there.

Although Ford's ( F) Alan Mulally, one of "the greatest CEOs in America today," according to Cramer would "have been appalled and made lots of apologies" if he were in Steve Jobs' shoes today, "I'm giving them more than a dollop of grace."

Cramer declared that he loves Apple's products and continues to think the stock should be bought today. He also noted that he thinks Verizon ( VZ) stock is better than that of AT&T ( T), which has been the exclusive carrier for the iPhone. "I like Verizon as a carrier in New York," Cramer added. He is a seller of Frontier Communications ( FTR) though.

Another stock that Cramer said he thinks is "absolutely a buying opportunity" is JPMorgan ( JPM), which just reported its second-quarter earnings. Although Cramer was disappointed that the bank didn't announce any dividend increases and had some other concerns about the second quarter, overall "I thought the quarter was good. Investment banking was not as bad as I thought."

He calls JPMorgan the "best of its breed."
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Click here for Cramer's Wednesday Stop Trading! segment

-- Reported by Andrea Tse in New York

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