Jim Cramer Says Buy Apple at This Level

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Apple  (AAPL) - Get Report reported an impressive earnings beat.

TheStreet's Martin Baccardax noted that Apple said profits for the three months ending in March, the tech giant's fiscal second quarter, were pegged at $1.40 per share, up 118% from the same period last year and well ahead of the Street consensus forecast of 99 cents per share. Group revenues, Apple said, rose 54% from last year to $89.58 billion, again topping analysts' estimates of a $77.35 billion tally, with more than two thirds of the overall total coming from overseas markets.

"We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high,” said CFO Luca Maestri. “These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers’ lives.”

Watch Jim Cramer weigh in on Apple, a name in his Action Alerts PLUS portfolio, in the video above. 

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