Jim Cramer: Apple Is Perceived as Value Trap

Jim Cramer says investors view Apple (AAPL) - Get Report as a value stock. 'What's really ailing Apple is that people feel it has become a value trap - it is very inexpensive,' Cramer said. 'I say to own Apple.' Cramer said Apple shares won't bottom unless analysts start to downgrade the stock. 'The analysts' numbers are too high - this quarter will not be a good quarter - we know that from Jabil Circuit (JBL) - Get Report , which makes their phones.' Cramer is manager of TheStreet's Action Alerts PLUS portfolio.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.