Cramer: Apple could grow bigger on Pay, ‘iLive’

Cramer: Watch these Apple headlines
Cramer: Watch these Apple headlines   

Despite its unprecedented success, Apple still has some underplayed initiatives that could drive the company to further growth, CNBC's Jim Cramer said Wednesday.

One is Apple Pay, Cramer said on "Squawk on the Street."

"They're rolling it in all the retailers," he said. "If you're going to have a register, you're going to [need] Apple Pay." Apple Pay will hit retailers in April.

Cramer spoke a day after Apple became the first company in history to close a trading session with a market cap above $700 billion. The stock rose about 1.7 percent Wednesday morning. (Click here for the latest price.)

Another initiative that could drive Apple to new heights is its new line of health-monitoring products. "I'm telling you, your doctors are waiting for Apple to be able to give you're your blood pressure," Cramer said. "This is Apple's goal, I believe: 'iLive'. If your blood pressure spikes, your doctor is immediately on the phone with you."

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"Everyone in the valley wants to live until they're 120 [years old]," Cramer said. "That's their goal."

Read More Apple becomes first US company to close with a market cap above $700B

Disclosure: Cramer's charitable trust owned Apple stock when this article was published.