Frequently under fire from technology analysts for its iPhone sales or issues with component suppliers, Apple the stock has become divorced from Apple the company, Cramer said.
"The thing is, that's the wrong way to analyze Apple," he argued. "I say take your cue from Warren Buffett, who talks about how Apple's customer satisfaction is off the charts and how it's ridiculous that the stock sells for 15 times earnings when, say, Procter & Gamble trades at 18 and Colgate at 21."
On Wednesday, shares of Apple remained under pressure after yet another negative analyst note about iPhone sales.
"But every time people sell this stock based on sales worries or China worries, we remember the annuity streams, the universality of the ecosystem, and the stock does bounce back," Cramer said.