Jim Cramer Says Apple, Amazon Problems Are 'Temporary'

CNBC’s "Mad Money" host Jim Cramer reacted to quarterly earnings from Apple AAPL and Amazon.com Inc AMZN with both companies facing supply chain issues.

Although Apple’s CEO Tim Cook expected supply constraints cost approximately $6 billion during the quarter, Cramer considers the iPhone maker’s problems as "temporary."

Cramer recommends owning Apple stock as he expects supply issues to get better, but was still unsure about timings of the same.

Although Amazon’s e-commerce operations also saw several disruptions, including supply-chain shortages and higher transportation costs, problems with the company are "temporary too," Cramer said.

Amazon’s retail business is decelerating due to tough comparisons, but the company’s Web Services business "is on fire," he added.

Apple reported in-line earnings for its recent quarter, while sales for the company came in weaker than expected. Amazon also reported disappointing top-and-bottom line results, also issuing weak guidance for the fourth quarter.

Price Action: Apple shares fell by 3.5% to $147.19, while Amazon shares declined by 4% to $3,308.76 in after-hours trading on Thursday following the release of quarterly results.