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Cramer Quick Take: Waiting for Apple's 'OMG' Product

Tickers in this article: AAPL
Check out Jim Cramer's latest trading recommendations on "Action Alerts Plus".

NEW YORK (TheStreet) -- When it comes to whether or not to own shares of Apple (AAPL) for his charitable trust, Action Alerts PLUS, Jim Cramer told Debra Borchardt at Monday he turns to his kids for advice.

He said the views of the younger generation can be a good indication of whether Apple is still at the top of its game.

So what are Cramer's kids telling him? He said that he's seeing some frustration over issues like Apple's maps and the latest version of iTunes. Apple used to be the company that could do no wrong, he noted, but it seems to be having trouble getting things right as of late. This can be a big problem for a company that charges a premium for its products.

Cramer said he still owns shares of Apple for his trust but has been trimming his position. He said fortunes can change with a transformative acquisition or an "OMG" product, but for now Apple just can't demand the premium it once did for its stock.

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-- Written by Scott Rutt in Washington.

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