Apple (AAPL - Get Report) can almost do no wrong.

"Look, Apple is a stock and a company that everything they do is underrated," TheStreet's founder and Action Alerts PLUS charitable trust portfolio manager Jim Cramer said in an interview. For instance, Apple's services revenue stands to gain from games that incorporate augmented reality on the upcoming iPhone 8, something investors probably aren't factoring in.

"Anything they do that increases its services revenue stream is extraordinary," Cramer explained.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

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Editor's Pick: Originally published Jun. 22.