"On a great day for the bulls where the Dow gained 178 points, the S&P advanced 0.45 percent, and the Nasdaq climbed 0.69 percent to a new all-time high, I think we need a new acronym for tech," the "Mad Money" host said Monday. "FANG's just not cutting it anymore because the gains are no longer limited to [that cohort]."
"If you want to understand the strength in the Nasdaq, you need a new acronym," Cramer continued. "So say hello to INJFANG, as in 'It's Not Just FANG' anymore."
"But what these critics were missing is that Apple doesn't just have the most loved, best tech for its cellphones, it's got a razor-razorblade business model that can't be beaten," Cramer said. "That means people buy the phone and pay for services directly from Apple or buy some of the developer apps on display today at the big conference and Apple gets a cut of each one."