NEW YORK (TheStreet) -- Amazon (AMZN) debuted its new Fire phone Wednesday, and some investors wondered about the effect of this on Apple (AAPL). TheStreet's Jim Cramer says a lot of people see investing as a zero-sum game; that is, if something is good for Amazon, then it must bad for Apple.
He urges investors to realize that this is an old-world way of looking at investing. Cramer notes Apple has entrenched itself via strong relationships with many wireless carriers and by establishing itself in China. He says the days of a company just disappearing are done and notes Apple's volatility has decreased since its 7-for-1 stock split.
Cramer thinks stocks nowadays only pause rather than get hammered when a competitor makes a positive announcement or when a company announces negative news.
He does not like Apple as much as when the price was lower, but it is not an expensive stock and investors do not need to react to every move from another company. It is possible, though, that Apple's new products, particularly the iPhone 6, could be a new catalyst in the second half of 2014.
Cramer recalls the massive sell off from March through May and notes Apple performed the best during that period. He cautions, though, that any new product launches could already be reflected in the stock price.