NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, examined Piper Jaffray's research note on Apple (AAPL - Get Report), an AAP holding.

The stock has remained largely unchanged while "old technology" stocks like Hewlett-Packard (HPQ - Get Report), Microsoft (MSFT - Get Report) and Western Digital (WDC - Get Report) all continue moving higher. The analyst explained that Apple is a quality value-play candidate, too. 

Cramer said Piper Jaffray thinks the iPhone is underrated, as is the boost to the dividend and buyback program.

Cramer likes Apple but called Samsung a "great company" and stock. However, it may be difficult for U.S. retail investors to get in the name since it trades in the Korean stock market. 

However, shares of Samsung would go much higher if listed in the United States, he said. 

Turning to MannKind (MNKD - Get Report), the stock is soaring after a Food and Drug Administration panel recommended approval of diabetes drug Afrezza. 

Cramer added that the "short interest here is monumental" because the bears didn't think the drug would be approved. 

"You have to watch this one," he concluded, adding that he has no opinion on the stock.

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.