Investors should keep their eyes on Apple (AAPL) stock, said TheStreet's Jim Cramer.
Apple shares are up 2.3% Tuesday after Morgan Stanley analyst Katy Huberty wrote there could be stronger-than-expected iPhone demand this quarter.
"This is a bold call," said Cramer, who is co-manager of the Action Alerts PLUS portfolio, on CNBC's "Mad Dash" segment. The Action Alerts PLUS portfolio is long Apple stock.
The analyst sees iPhone demand tracking ahead of expectations, and now sees sales coming in closer to 56.5 million, above the previous estimate near 49 million, Cramer added.
In addition she sees stronger demand in China, Cramer said, adding that overall estimates may need to be revised higher for the quarter.
Shares of Apple have been strong lately, approaching year-to-date highs after rallying more than 11% over the past month. "The universe gave up" on Apple and investors threw in the towel, Cramer said.
Now the sentiment is turning. The company has a event scheduled for March 21 and Apple Services could be a major focus, he said.