Jim Cramer Isn't Buying Apple Here, and Thinks Facebook and Alphabet Look Better on a Dip - TheStreet

Jim Cramer likes Apple (AAPL) - Get Report  -- but not at current prices. And while Facebook (FB) - Get Report and Alphabet (GOOG) - Get Report , (GOOGL) - Get Report  are his top picks among techs, he says the best way to build positions in those two high-priced stocks is to slowly buy on dips.

"Facebook and Alphabet -- those are the two to buy on the next big decline," Cramer said in an exclusive call this week with members of his Action Alerts PLUS club for investors. "It's why we rate them as 'Ones,' [which] means that they are fine to buy right here -- but even better into any dip."

Cramer, whose charitable trust owns both names, recommends buying 25% of your desired position if time Facebook or Alphabet pull back 8% to 10% from their highs.

As for Apple, which the charitable trust also owns, Cramer said that "I think we're headed into an Apple phone cycle, where there will be many downgrades. ... So, I'm not as anxious to scoop some up at these levels."

Alphabet shares fell 0.2% to $958 in after-market trading on Friday. Apple was down 1.4% to $142.33, and Facebook rose 0.5% to $150.60.

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Employees of TheStreet are restricted from trading individual securities. Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL, GOOGL and FB.