NEW YORK (The Street) -- On CNBC's "Cramer's Stop Trading" segment, TheStreet's Jim Cramer said high-end watchmakers are worried about smartwatches like the one Apple(AAPL) - Get Reportrecently released.
"This watch is beginning to cut into [Michael]Kors (KORS) , Fossil(FOSL) - Get Report and Movado(MOV) - Get Report, because those are all expensive watches and those watches are dumb. This is a smart watch," Cramer said, pointing to his Apple Watch.
Cramer noted the Apple Watch's attractive features and functionality, saying, "I've got my email, I've got my contacts...I was speaking to my daughter, she didn't even know" the difference between the sound quality of the Apple Watch and a cellphone.
However, he said he's still keeping his Breitling (BECC) timepiece -- some of which can retail for $6,000 -- for when he "goes out."
At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.