Mad Money Lightning Round: Cramer Likes Apple, Freeport McMoRan

On CNBC's Mad Money, Jim Cramer said during the Lightning Round that Apple AAPL “appears to have recently bottomed at $310 a share. It sells at just three times cash. I believe that Apple can go higher." Cramer said that he “did a huge mea culpa on Oclaro OCLR.” He added, “I would not sell here though; I would let it lift a bit, then sell." For Caterpillar CAT Jim said, "Cat has said that oil between $80 and $90 is the sweet spot. I think Cat is terrific here and the naysayers are idiots." Jim said that Advance America AEA is “terrific. It's got a high yield and that's great." For AK Steel Holding AKS, Jim said, "I'm not a big fan of steel companies here. I'm not going to recommend them here." Cramer said, “I saw Freeport McMoRan FCX go down. I believe that FCX goes back up. I think you should be a buy, buy, buyer right here." Read more on Jim's Views On Benzinga