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Cramer’s Ultimate Growth Stocks for 2012

To Cramer, Apple is “the greatest growth stock of our lives.” The technology giant has built itself into one of the world’s most respected brands, with a massive following of loyal customers. Here’s how it sizes up to Cramer’s growth rubric.

1. Clear Growth Path: Cramer noted that from the iPad to the iPod and iPhone, Apple has many popular products that present multiple revenue streams.

2. Market for Products: Apple has a lot of upside because many of its products still aren’t dominant, Cramer said. Barring the iPod, all Apple products are still ramping up and taking market share.

3. Competition: Apple is so innovative it will remain competitive, Cramer said.

4. Capital to Shareholders: Last month, Apple gave in to investor pressure to pay a dividend after the company's cash pile grew to almost $100 billion.

5. International Expansion: When it comes to technology companies, Apple is “further than most” in terms of international expansion, Cramer said. It still has work to do, though.

6. Balance Sheet Strength: Cramer thinks Apple has the “best balance sheet in the world.”

7. Is It Expensive?: Expected to earn more than $50 a share in 2013, Apple is “absurdly cheap” at 12.75 times earnings — especially considering the average stock sells at 14 times earnings.

8. Strong Management: Cramer said Apple’s management team has been doing a fantastic job in the wake of the passing of founder Steve Jobs.

9. Secular Growth: Apple has built such a strong brand that it does well, even in a sluggish economy.

10. Margin Growth: Raw costs won’t constrain Apple, Cramer said. He expects Apple to grow margins.