Cramer has been meeting a broad cross section of individual investors at the many public events recently held in celebration of his new book "Get Rich Carefully."
And he's found broad concern about one stock in particular.
"I stopped counting after 20 people asked me if they were okay in " noted Cramer. "Some bought it lower. Some bought it higher but they are all scared to death about it."
An American icon: the Apple store in ManhattanAdam Jeffery | CNBC
We'll cut right to the chase; the "Mad Money" host doesn't see any reason to fear the stock.
"The funny thing is that Apple's pretty much the opposite of scary these days. It is a slow growing, low multiple value stock with oodles of cash, a good dividend and new products that may or may not move the needle."
However, Cramer doesn't think Apple stock will return to its glory days anytime soon either. That's largely because he thinks the iPhone has saturated the U.S. market.
"Now make no mistake, that's great for the company," Cramer said, "but it's not a catalyst for buying Apple stock."
By the time a product achieves saturation, a significant amount of the product's potential has already been factored into share price – remember, the stock market trades on future earnings potential, Cramer says.
Therefore, if you're an individual investor looking for a sharp move higher, similar to Apple's advance in 2011 and half of 2012, Cramer thinks a much better time to buy will be "at the very first whispers that Apple's got something new in the pipeline that could be tremendous."
Apple has a very loyal customer base; they will try a new product immediately.
Read more from Mad Money with Jim Cramer:
Magnificent 7 to aid investors
New CEO to make Microsoft more relevant?
10 things you should know about the selloff
That's what Cramer thinks drives the next big move – a hot new product – not anyone and everyone taking pictures on iPhones.
Although Cramer's analysis suggests there may be better places to put money to work in the near-term, Cramer doesn't think there's any reason to fear Apple, either. He thinks it's just fine. "That's right, fine. I don't think Apple's going down much but I don't think it will run away either."
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