Jim Cramer says he still likes Apple (AAPL) and other tech giants under a Donald Trump administration, even though Silicon Valley has long had a prickly relationship with the president-elect.

"What you really want to do is always come back to the fundamentals," Cramer said during a recent exclusive conference call with members of his Action Alerts PLUS investment club. "Alphabet  (GOOG) , (GOOGL) trades at a below-market multiple. Facebook  (FB) on 2018 numbers trades at a below-market multiple. These are fascinating to me."

Many U.S. tech CEOs seemed to favor Democrat Hillary Clinton over Trump in the presidential election, with her social liberalism and free-trade policies more in tune with Silicon Valley's ethics. Trump's talk of keeping out foreign workers and fighting China over trade policy doesn't play well in an industry that often uses Chinese factories for manufacturing and skilled immigrants for high-paying U.S. tech jobs. The Republican has often targeted Apple specifically, demanding that it build products in the United States and calling for a boycott of the firm in 2016 over its refusal to help the FBI unlock San Bernardino shooter Syed Farook's iPhone.

But Cramer, whose charitable trust owns AAPL shares, told members of his Action Alerts PLUS investment club that Apple "is uniquely a situation that I want to own." He said that while CEO Tim Cook is "concerned like every CEO is every CEO is worried about a [hostile Donald Trump] tweet, I don't think that Apple is one I would want to sell."

After all, Cramer noted that APPL currently sells at just 13x its earnings. He also pointed out that the tech giant has about $40 a share in cash outside of the United States at a time when Trump is promising to cut taxes on repatriation of such corporate funds.

"If you think repatriation is going to happen [at] a reasonable [taxation] level, do you want to leave Apple now because it has considerable exposure to making product overseas?" he asked. "If [the firm could repatriate] maybe $30 per share, what Apple could do? They could buy back stock. They could boost their dividend."

(Click here to learn more about AAP club membership, which offers access to Cramer's future monthly conference calls, exclusive alerts every time he makes a trade and lots of other custom material.)

Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long AAPL, FB and GOOGL.

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