The Dow component "is a hit machine," Cramer said on "Squawk on the Street," adding that other entertainment businesses haven't been as successful in repeatedly producing big hit movies.
"Bob Iger is not only not getting enough credit for this hit machine but the hit machine is better than any other consumer product that I've seen other than Apple," argued Cramer, whose charitable trust owns shares of Apple. "It literally is like an iPhone 6, iPhone 7, iPhone 8."
Disney, after-the-bell Tuesday, reported quarterly earnings that topped Wall Street expectations. Revenue also beat forecasts, with strong results for the media and networks, parks and resorts, and movie studio units.