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Cramer: Here’s IBM’s biggest problem

Aside from missing revenue expectations for the 13th straight quarter, IBM faces a broader market problem, CNBC's Jim Cramer said Tuesday.

"No one wants value," Cramer said on "Squawk on the Street."

He said investors within the tech space were looking for growth like the one seen in Facebook shares rather than value stocks.

IBM reported mixed second-quarter results on Monday. The blue chip tech company reported adjusted earnings per share of $3.84 on revenue of $20.81 billion. Analysts expected profits of $3.78 a share on $20.95 billion in sales.

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Another problem for the company may have to do with unrealistic quarterly expectations, Cramer said. "One of the things that happened that was wrong for IBM was that the stock ran up in anticipation that this was somehow going to be a breakout quarter."

IBM shares were down more than 5 percent Tuesday morning.

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