Cramer's 'Mad Money' Recap: Steve Jobs Transcended Them All (Final)

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NEW YORK ( TheStreet) -- "Ford, Walton, Edison, Carnegie, Rockefeller, Steve Jobs left the whole pantheon in the dust," Jim Cramer told his "Mad Money" TV show viewers Thursday, as he paid homage to a man he called uniquely American and "the best we had."

Cramer said it's hard to capture the importance of the iconic founder and former CEO of Apple ( AAPL), which he also owns for his Action Alerts PLUS portfolio. While legends like Henry Ford revolutionized transportation and Sam Walton provided affordable clothing for all, Cramer said Jobs had the power to transcend them all by making machines that made the impossible possible.

Cramer said machines that we never knew we needed turned out to be necessities, and it's hard to remember the time before computing was made easy for the masses, before iPhones, iPads and iPods. Just as inventions like the wheel, pulley and lever were groundbreaking, so too were Jobs' contributions to how we interact with information.

Then there's Jobs' $350 billion worth of wealth creation under his tenure. Cramer said that bought a lot of retirements and college tuitions and vacations, not to mention countless meals on the table. Jobs was able to see four and five years ahead, to see around corners, and worked hard every day, never turning to Washington for help or money.

Cramer said Jobs was like Beethoven or Mozart and we simply may not be smart enough to truly understand his legacy. In an era when Americans have a lot to not be proud of, Cramer said Jobs showed us what we are capable of and provided us the tools to get there.

Separating the Company From the Stock

"Even great companies can have risky stocks," Cramer told viewers, as he looked into what to do with Chipotle Mexican Grill ( CMG), a stock that's up over 500% since Cramer first got behind the stock in February 2009. After hitting a high of $336, shares of Chipotle have pulled back to just over $300. While analysts at Credit Suisse recently upgraded the stock, two other firms downgraded it to a hold.

Cramer said it's hard to argue that Chipotle, the company, continues to do nothing but deliver. He said sales remain strong and the company has huge opportunities in front of it for growth, as well as its new Shophouse Asian Kitchen store concept. Shares of Chipotle trade at 35 times earnings for a reason, he said.

But on the flip side, Cramer is worried about Chipotle, the stock. He explained that momentum names rally because the estimates are too low and companies are able to beat them time and time again. But in this market, with so much uncertainty, it will be hard to find many analysts willing to raise estimates. Additionally, if the company delivered anything other than blowout results, the stock will be crushed.

Cramer said he's worried about Chipotle the stock, not the food. He said while long term he still likes the Chipotle story, he wouldn't argue with anyone willing to take profits now and buy their shares back in scales at lower levels. "If you can't take the short-term pain," he said, "it may be time to take some profits."

Crushing the Competition

In continued homage to Steve Jobs, Cramer said simply that "the Apple story isn't over." He said this company has returned over 13,000% since its initial IPO back in the 1980s, but even more remarkable than the value it created is the value its competitors have lost.

Cramer noted that Apple's disruptive and destructive technology in the music business caused a 48% decline in the price of Sony ( SNE), not to mention a 45% decline shares of Warner Music, which was sold a few years back. Tack on all the brick-and-mortar record stores that are no longer around and it's obvious what a changing force Apple has been.

In the PC market, Apple has been equally effective. While Apple may still only be the fifth largest computer maker with only 10% of the market, Dell ( DELL), Hewlett-Packard ( HPQ) and Microsoft ( MSFT) have lost a combined $127 billion in market cap. Apple grew its PC business by 23% in 2010.

Apple products use flash memory, which has sent shares of hard drive makers Western Digital ( WDC), Seagate ( STX) and others down $5.5 billion in value.

Then there is the mobile phone market, where former leaders like Nokia ( NOK) and Motorola ( MOT) have lost $108 billion, Research In Motion ( RIMM), $51 billion and Google ( GOOG), $7 billion.

"Those are just the numbers we can add up," noted Cramer. When it comes to tablets, he said, consumers don't want tablets, they want iPads. Cramer concluded that even without Steve Jobs, "its still the world versus Apple and the world doesn't stand a chance."

Great Holiday Season

In the "Executive Decision" segment, Cramer sat down with Robert Pedersen, president and CEO of Zagg ( ZAGG), an accessory maker for mobile devices like Apple's iPhone, among others.

Pedersen started off by saying that Steve Jobs had a huge impact on his industry and was an innovative person that created a truly innovative company.

Turning to Zagg, Pedersen said the company strives to have accessories on the shelves with every major product launch, but in the case of Apple, the company tends to be more secretive with its new product designs.

He said Apple products account for less than 50% of sales at Zagg and the company relies on its partnerships with Best Buy ( BBY) and Wal-Mart ( WMT) to help distribute its products at over 20,000 locations.

Pedersen said he expects the holiday season to be a great one for Zagg. With the electronic accessory market brimming to $60 billion in sales this year, he said Zagg is well positioned with high quality, innovative products and a brand name customers trust.

Pedersen closed by mentioning his company's flagship product, invisibleShield, which has three patents for protecting mobile devices from wear and scratches.

Cramer said he was glad to learn more about this up-and-coming, but little known company.

Lightning Round

Cramer was bullish on Buffalo Wild Wings ( BWLD), Joy Global ( JOYG), Peabody Energy ( BTU), American Capital Agency ( AGNC), Annaly Capital ( NLY), Pepsico ( PEP), Kohlberg Kravis Roberts ( KKR), General Motors ( GM), Diamond Foods ( DMND), Bristol-Myers Squibb ( BMY) and Sanofi-Aventis ( SNY).

Cramer was bearish on Cliffs Natural Resources ( CLF), Navios Maritime Partners ( NMM) and WebMD Health ( WBMD).

Closing Comments

In his "No Huddle Offense" segment, Cramer dove into the question of why the European markets have been acting better as of late. He said that first, Jean Claude Trichet is stepping down as head of the European Central Bank, and his successor will likely not follow in his "do nothing" footsteps. Also, a successor isn't likely to be worried about inflation and will be open to cutting interest rates.

Also, Cramer said the bailout of the Belgian bank Dexia didn't take down the whole system and resulted in no pin action to other banks. He said the Dexia's "good bank, bad bank" model, while messy, is at least a solution which is better than doing nothing.

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

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

At the time of publication, Cramer was long Apple.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com 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 TheStreet.com, 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 TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

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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 TheStreet.com. 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 TheStreet.com, 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.

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