As part of the back and forth (and I suggest you watch the whole clip) Stewart pulled out an old interview with Cramer where he talked about hurting Apple stock by claiming neither AT&T or Verizon was interested in selling the iPhone.
Cramer was a hedge fund manager at the time, and may have wanted a quick short term profit by manipulating stock sales with misleading information. Cramer said it was legal, Stewart questioned the ethics. In the end, the SEC will have to decide.
AAPL seems to be one of the top tech stocks that is buffeted by rumors, good and bad. In this case, here's a guy telling us how it works.
Here's a link to the older interview on YouTube. The part about Apple begins about 3:30 into the clip.
Thanks Jose for the tip and the link.
Correction: One of our readers points out that Cramer was not running a Hedge Fund in 2006 but gave it up in 2001. Thanks Rick for setting the time line straight.