In the August Action Alerts PLUS members' call, Jim Cramer is just dumbfounded that Clorox (CLX)  ....a company that makes the most basic of all products, chlorine bleach...trades at a much higher price to earnings multiple [than Apple (AAPL) ]? What's wrong with this picture?" he asks.

He firmly believes that Apple -- "a company that makes the most sophisticated consumer product ever manufactured" -- should be trading at a much higher multiple.

Watch his explanation of it all now.

For more on Action Alerts PLUS holding Apple, click on the links below:

Do you want more exclusive investing insight from Cramer? Get 24/7 access to Jim's charitable-trust portfolio with a free trial to Action Alerts PLUS! You can also watch all of Jim Cramer's New York Stock Exchange live shows on YouTube.

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