Jim Cramer Says Apple Is the Cheapest Big Cap Stock He Follows

TheStreet's Jim Cramer says Apple is now the cheapest big cap stock he follows and that it's one to buy and hold onto for the long-term. Cramer says the latest research note from JMP Securities which says the firm is raising its price target on Apple shares to $150 from $135 and reiterating its MARKET OUTPERFORM rating is very good. JMP also said that Apple could earn $9.00 a share in 2016. Cramer says that in addition to the surge of iPhone 6 and iPad sales on Black Friday and Cyber Monday, Apple is also a low multiple stock that has a lot of cash on hand which could be used to make acquisitions.