Monday brought both good and bad research reports, respectively, for Apple (AAPL - Get Report) and General Electric (GE - Get Report) , TheStreet's founder Jim Cramer, noted during CNBC's "Mad Dash" segment.

RBC Capital analysts came out with their top expectations for Apple's new 10th anniversary iPhone, set to be introduced Tuesday. For Cramer, one of the highlights of the report includes the promise of a longer charge to the battery. After a year or two, too many iPhones fail to hold a decent charge, customers have complained.

RBC's note and broad excitement for Tuesday's event has AAPL stock up 2% to $161.92 in early Monday trading. Shares are within striking distance to its previous all-time high of $164.94.

That's the good, but now for the bad. One of Cramer's favorite analysts, John Inch from Deutsche Bank, reiterated his sell rating on General Electric, lowered his price target to $21 from $24 and lowered his 2018 EPS estimates to $1.55 from $1.85.

So what's wrong? While aerospace and healthcare remain good, oil and gas, and power is not doing very well, Cramer reasoned. Former CEO Jeff Immelt got out of financials at the bottom before the industry improved and bought heavily into energy as the cycle was near a top. Those acts are nearly unforgivable, he said.

GE stock is down 38 basis points Monday, to $23.74. Shares are down 25% on the year, driving the dividend yield up to 4%. Investors are concerned about the dividend, but management has said paying it remains a priority. That may be true, but a "priority is not a must," Cramer pointed out.

Apple and General Electric are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells GE and Apple? Learn more now.

Current CEO John Flannery seems to be doing well with his cost-cutting agenda. However, it seems like Flannery "is all systems go, but the company is all systems stop," said Cramer, who also manages the Action Alerts PLUS charitable trust portfolio. Flannery can only do so much with the "incredibly bad hand" he was dealt, he added.

It still seems too early to buy GE stock. Instead, investors may have to wait for the company to reset expectations in November, he concluded.

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At the time of publication, Cramer's Action Alerts PLUS had a position in GE.