But, more specifically, he also has some advice to anyone running the research departments that cover Apple.
Apple is a consumer company, not a tech company.
Here's the reasoning behind his thoughts:
"Colgate (CL) - Get Colgate-Palmolive Company Report has a 24 multiple. Colgate kind of sucks, but it's a zero product company. Apple may be the foremost consumer product company in the world, but it trades as if [it's] a little bit better than a hardware company but not as good as a software company. So my argument would be it is becoming a consumer product company. So give it a consumer product multiple. If I were running a research department right now, I would switch Apple from tech to consumer products. They are the foremost tech company I know, but the multiple new consumer product companies are so much better and they deserve it," explained Cramer.
Following Apple's all-time highs, should the company be switched from being looked at in a tech lens to a consumer products lens?
Watch the full video above for more.
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