Over the last 6 months since Mr. Cramer unveiled his mobile internet index, the Dow Jones Industrial average has gained 1,000 points or 11%. The technology-focused Nasdaq index is up 12% in the same time frame. So how has the Mobile Internet Index performed?

Unfortunately, the last 6 months has to be considered a mild disappointment for the mobile internet index. The index as a whole is up 9.6% during that time, but has underperformed the 12% gain in the Nasdaq.

The Mobile Internet indexes performance has been weighed down by a couple of extremely poor performances. The worst performer in the index, Palm (PALM: 0.00 N/A), has lost over half its value in the last 6 months. Tessera Technologies (TSRA: 19.68 0.00%) stock has fallen over 30%.

While the overall index performance has been disappointing, there have been some stellar individual stock performances. Sandisk (SNDK: 47.56 0.00%) is up an amazing 65% over the last six months. Starent Networks (STAR: 0.00 N/A) shares have soared over 56% since last August. In fact, 14 out of the 21 stocks have posted 6 months gains with 12 of those 14 stocks delivering double digit gains.

The big names of the index, like Apple (AAPL: 463.97 0.00%), Google (GOOG: 609.09 0.00%) and Cisco Systems (CSCO: 20.19 0.00%) have also outperformed the broader market indexes with Apple leading the way with a 21% gain.