Cramer: Buffett’s out of touch with IBM

A woman walks past the IBM logo
Sean Gallup | Getty Images
A woman walks past the IBM logo

CNBC's Jim Cramer was surprised by Warren Buffett's remarks Monday about IBM.

Earlier in the day, Buffett told CNBC he did not think his investment in IBM was a mistake, but that he could be wrong.

"I find his comments oddly removed from what's going on at IBM," Cramer said on "Squawk on the Street." "IBM is very much involved in this transformation to go towards cognitive, go towards … faster-growing revenue."

"I kept waiting for him to say 'I have great hopes for the company's cognitive portion; I have great hopes for [CEO Ginni] Rometty's strategy.'"

Buffett's Berkshire Hathaway holds an 8.59 percent stake on IBM, an investment that has lost $2.6 billion for Buffett's conglomerate as of Dec. 31.

"Instead, we know that there's also a component of IBM , which is about buying back stock and dividends, which a lot of that, I think, is to please this man," Cramer said.

Shares of IBM have fallen nearly 20 percent in the last 12 months. On Monday, the stock traded marginally lower.

Disclosure: Cramer's trust did not own IBM stock when this article was published.