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We are cognizant ... I speak to my friend Matt Horween who's my running partner, that Apple is struggling right here at 188. But you know what? Sometimes you just have to say, we're going to just ride something out. I believe that Apple is still very inexpensive, and I have been saying, actually told the company over and over again, other than when I told them to buy Netflix. They didn't buy Netflix. It was $25 billion. Guys, you gotta buy Netflix. They didn't buy Netflix.
I wake up in the middle of the night, said, why didn't Apple buy Netflix? They didn't. All right. Listen, they're not going to listen to me, but they do listen to me on service. I said you gotta break out that stream. There's a lot of people, obviously. I'm not saying it was mine, but the service revenue stream is so much better than the razor razor blade, Proctor and Gamble Gillette model, and I think that people continually misread the service revenue stream. I think that there will absolutely be another leg up as Apple reconfigures the App Store and drives you more to Apple apps, which is gonna be really lucrative for them. So with that revenue stream that is much less episodic,
 I think it's a great situation.

Ahead of Apple (AAPL) earnings Tuesday, we're rewinding to when Jim Cramer considering picking from another tree. 

In the July Action Alerts PLUS members' call, a member noted that Apple was at the Actions Alert price target.

So is it time to sell?  

Cramer actually thinks the stock still is inexpensive at $188 and also thinks that "that people continually misread the service revenue stream. I think that there will absolutely be another leg up as Apple reconfigures the App Store and drives you more to Apple apps, which is gonna be really lucrative for them. So with that revenue stream that is much less episodic." 

But, he admits, he was upset that they didn't buy Netflix (NFLX) .