TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer attributes Mizuho’s downgrade of Apple AAPL to a multiple compression story, in the sense that investors aren’t going to continue to “pay up for the earnings that you’re getting there.”
Cramer thinks investors should watch Apple vs. Clorox CLX , Procter & Gamble PG and Colgate-Palmolive CL .
“This is a consumer products story,” Cramer said.
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