Wall Street's take on Apple is nothing short of confusing, CNBC's said Tuesday.
"I think that one of the things that happens with Apple is, it's universally considered to be boring and past its prime that, when they issue things, I'm looking and I'm saying, 'boy, I want that, but it's past its prime,'" Cramer said on "Squawk on the Street" a day after the company's annual Worldwide Developers Conference.
At the conference, Apple unveiled a new iPhone operating system, a rebooted Apple Music and new capabilities for Apple TV. Apple shares fell 1.5 percent Monday.
"There's this kind of oxymoronic analysis of Apple. There were hundreds of articles devoted to all the things [released at WWDC]," Cramer said. "After I read them, I said 'yeah, but the market won't like it.'"
"The disconnect between all the great things that Tim Cook is up to versus how we are yawning is funny."
Apple shares were slightly higher Tuesday.
Disclosure: Cramer's trust owned Apple stock when this article was published.