The stock has had trouble moving higher for a while now, TheStreet's Jim Cramer, co-portfolio manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment. It has stayed relatively flat over the past few months despite the company's strong earnings results and analysts continuing to boost their estimates.
Cramer noted that analysts at Citigroup recently increased their earnings expectations above the Street consensus, while those at RBC Capital Markets also reiterated bullish sentiment.
Cramer said Apple remains an iPhone story, which contributes to a majority of the company's profits. Although sales for this product remain strong, some investors get caught up on how other products are selling, such as the Apple Watch, he said.
Regardless, when analysts boost estimates, the stock shouldtrade higher, Cramer concluded.
At the time of publication, Cramer's Action Alerts PLUS was long AAPL.