On CNBC’s Mad Dash, Cramer said, “I have good sources at Visa, Mastercard and JPMorgan, and no one saw this coming. Apple had a very tight lid on this.” What is this? The online payment service unveiled on Apple’s iPhone 6. Since Apple is teaming up with major credit card companies, it can “eviscerate Paypal, ” and “will destroy the industry.”
There is no doubt, at least in Cramer’s mind, and certainly in activist investor Carl Icahn’s opinion, that eBay should have spun off Paypal earlier. Now it seems like a last ditch effort and eBay was downgraded by JPMorgan, Wedbush and Jeffries.
Another hoped-for technological solution that doesn’t seem to be panning out are natural gas engines. Cramer was bullish on Westport, which makes the engines, for a long while, but with slowness in regular autos in Europe, China and other areas, speculative natural gas engine stocks are likely to get hit even harder than companies like Cummins. Even if the market for cars and trucks worldwide was larger, Cramer noted, “People are not falling all over themselves for natural gas engines, ” and it “just isn’t being adopted.” Natural gas engines, he said, are notoriously hard to fill up, and while the technology may catch up, it is likely to take a long time.