The "Mad Money" host has no reason to doubt Apple or its CEO, Tim Cook. Perhaps sales have slowed since the quarter it just reported last week, but Cramer hasn't gotten that read.  He could also suggest that the cellphone business has become a zero-sum industry, and Apple has totally crushed its competitor Samsung to take share faster than he's ever seen.  But there is one thing that Cramer knows for sure—the companies that have most benefitted from the strength in Apple's phones are hurting right now.  Both Qorvo and NXP Semiconductors represent the hottest portion of the semiconductor business, and have chips that go into everything from autos, to the Internet of things and cellphones. And while NXP was loved on Thursday, rising 6 percent, Qorvo took a total nosedive, dropping 14 percent.  Cramer could sense the total confusion emanating from Qorvo's conference call on Wednesday, which was widely viewed as a disaster. It portrayed the shortfall as a function of the big infrastructure transition in China, not Apple.  Yet, with all of the evidence, Cramer could argue that it wasn't just the infrastructure transition. It's an actual slowdown, which was aggravated by the crash in the Chinese stock market. No one can escape the slowdown, including Apple.  So, what is the truth here?  "My view is that the hot money made a bet that cellphone sales in China would be going strong. Now the hot money wants out of that bet, including Apple," Cramer said.  ---------------------------------------------------------- Read more from Mad Money with Jim Cramer Cramer Remix: This is hurting Whole Foods Cramer: Twitter & Yelp blew it! It's their fault Cramer: What's really behind explosive earnings ----------------------------------------------------------  Instead, money is rotating out of cellphones and Apple and into health care, soft goods, oils and possibly industrial stocks.  Cramer summed it up in just three letters: ABC—anything but cellphones.  By the time investors find out what really when wrong, Cramer suspects the market will have already bottomed and started to go up again. That is exactly why he reiterated to own, not trade Apple, for a bumpy ride ahead.
Jim Cramer gives his take on China's impact on Apple, and where the big money is really flowing.