Jim Cramer's Got His Eye on Apple

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Jim Cramer has his eye on Apple  (AAPL) - Get Report

So, here's why Apple is the Apple of Cramer's eye on Wednesday.

Watch the full video above for more.

Video Transcript:

Katherine Ross:
Now Jim, I want to ask you what's top of mind this morning? Because this market is wild today.

Jim Cramer:
Yeah, what's top of mind for me and what everybody has to focus on is Apple, and the reason they have to focus on it is because there was an upgrade today. What we're trying to figure out is will upgrades work when you cut numbers, all right? So Deutsche Bank upgrades and they cut numbers and the stock is up. Now this is different from Nike, which actually they raised numbers. So if you raise numbers in this environment, you get a real winner, and Nike's up almost 10%. They had a fantastic quarter last night. But how about have you cut numbers and you upgrade. This is the battle rap, and we don't know. Apple's only up a dollar, earlier it was up a lot more. So let's watch that, because we need to see companies stocks go up because they're down so far the [inaudible 00:00:59] numbers are cut, they go higher, and that's what we're dealing with there.

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