Cramer: Stop Trading Apple -- Instead Buy as It Continues Higher

NEW YORK (TheStreet) -- You'd think Apple (AAPL) is a small-cap biotech stock the way it seemingly trades higher every day, TheStreet's Jim Cramer said on CNBC's "Cramer's Stop Trading" segment. 

Shares of the tech giant are now up some 40% on the year, giving the company a market capitalization of $652 billion. The stock is up nearly 2% in Thursday's action as of 11 a.m. 

Cramer, the co-manager of the Action Alerts PLUS portfolio, pointed out that analysts at Bernstein raised their price target on Apple shares from $110 to $120.

AAPL Chart
Apple AAPL data by YCharts

But there's one key to being long Apple -- and that's to "stop trading it!" he exclaimed. If investors want exposure to the company, just buy the stock and be done with it. Stop trying to time it around earnings and product releases, he explained. 

At this point, fund managers can't afford to not have Apple as part of their holdings, so they're piling into the name.

"Apple goes higher," Cramer concluded. 

-- Written by Bret Kenwell

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS was long AAPL.

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