Jim Cramer Explains Why Apple (AAPL) is the Cheapest Big Cap Tech Stock He Follows

NEW YORK (TheStreet) -- JMP Securities issued a research note Wednesday to say Apple  (AAPL) could earn $9 in 2016.

TheStreet's Jim Cramer has been saying that Apple is a low multiple stock. If the tech giant is going to earn $9 from its current position of approximately $116, then Cramer says it is now "the cheapest, big cap tech company" he follows with "tons of capital" and plenty of catalysts in 2016.

Therefore, Cramer reiterates his stance on the stock. "Do not trade Apple," he says. "Own Apple."

Must Watch: Jim Cramer Says Apple Is The Cheapest Big Cap Stock He Follows

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JMP Securities increased its price target on Apple to $150 from $135 and maintained its "outperform" rating.

TheStreet Ratings team rates Apple as a "buy" with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate APPLE INC (AAPL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, revenue growth, notable return on equity and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

AAPL Chart AAPL data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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