Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK ( TheStreet) -- Are there bargains still to be had in this red-hot market? Jim Cramer asked his "Mad Money" viewers Monday.
He said there is one stock that's not up for the year, one that yields 2.3% and trades at just 12 times earnings despite a remarkable growth rate. That's the stock of
(AAPL - Get Report), a stock Cramer owns for his charitable trust,
Cramer said Apple just received an analyst upgrade today, one that made a remarkable amount of sense. That upgrade cited higher iPhone sales, higher gross margins and some signs of Android weakness as the main drivers for Apple, but Cramer said there's a lot more to like about Apple.Cramer noted that Apple has a big catalyst coming with its expected iPad announcement tomorrow. That announcement should put the company in a position to have a strong holiday season. Additionally, Cramer said Apple's board has a lot of options it could take before the company's next earnings call on Oct 28. He said if Apple really wanted to turbocharge its share growth, it could split the stock 4:1 and increase the dividend. Both those moves would make Apple shares more attractive to retail investors and less of a target for the shorts, he said. With all of these things going right, Cramer said there's simply a lot more to like about Apple than there is to dislike at current levels.