Jim Cramer Says Apple (AAPL) Is in a Transition Quarter

NEW YORK (TheStreet) -- Apple  (AAPL) hit an all-time high Wednesday, and TheStreet's Jim Cramer says people are freaking out wondering where the stock will go.

But he tells them to calm down and calls this a transition quarter for the tech giant, much like a television show that places a filler episode in between periods of drama. Cramer notes everyone is waiting for the iPhone 6 and Apple's wearable devices, such as the widely speculated iWatch.

See more of TheStreet's Jim Cramer on Apple's 'transition quarter':

WATCH: More market update videos on TheStreet TV | More videos from Jim Cramer

Cramer thinks the quarter will be fine and advises people to stop guessing about how the quarter will turn out. He gives the same advice now that he has given for quite a while: "Just own Apple. Stop trading it."

Must Watch: Apple Hits $100 but Jim Cramer Says This is a Transition Quarter for Apple

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TheStreet Ratings team agrees, as it rates APPLE INC as a "buy" with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLE INC (AAPL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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