Cramer's 'Mad Money' Recap: Under-Promise and Over-Deliver

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NEW YORK (TheStreet) -- The first rule of growth stocks is under-promise and over-deliver, Jim Cramer told his "Mad Money" TV show viewers Wednesday as he opined on the backlash seen in Apple stock after what was widely perceived as a ho-hum iPhone announcement Tuesday.

Cramer said that Apple, a stock he owns for his charitable trust, Action Alerts PLUS, just didn't get the under-promise message when investors had similar lackluster reactions to the company's products this time last year. At the time, CEO Tim Cook said that 2013 would be a big year for Apple. To date, the company's one announcement touted colorful iPhones with better security.

Growth stocks often learn the under-promise, over-deliver, or UPOD, message the hard way, said Cramer, as Chipotle Mexican Grill and Starbucks have in the past. But lately both of those companies have managed expectations and continue to wow investors every quarter.

"Never promise what can't be delivered," said Cramer. Shareholders have the right not to be disappointed.

What could Apple have done in 2013 to wow investors? Cramer said why not buy Twitter, or Netflix , or both? Why not do something to reinvigorate growth more than simple buybacks and dividends? Wall Street needs, and even craves, growth, Cramer concluded, which is why so many analysts jumped on the downgrade bandwagon today.

Executive Decision: Francois Nader

In his first "Executive Decision" segment, Cramer spoke with Dr. Francois Nader, president and CEO of orphan drug maker NPS Pharmaceuticals , a stock that's up 238% since Cramer first highlighted the company a year ago.

Nader said that he's very pleased with his company's prospects. NPS plans on filing for its next drug approval by the end of this year and is proceeding with global expansion plans early next year. After that, Nader said his company's pipeline will continue to expand as its drug, Gattex, expands into new indications.

Nader said the market opportunities are huge for NPS and extend far beyond the few hundred patients the company currently services. Not all patients will have to pay the $295,000 annual price tag for Gattex, but there are far more patients that could benefit from the treatment.