TheStreet’s Jim Cramer is watching Apple (AAPL) as the company gets ready to report earnings on Tuesday July 21st. The world’s biggest publicly traded company will report its fiscal third quarter earnings after the market close on July 21st with an earnings call at 5:00 pm eastern time to follow the announcement. Cramer says that the ‘key thing’ that investors will need to find in the earnings call this quarter are the sales numbers from China. Cramer says that Apple’s China earnings numbers will ‘not include the China bear market.’ ‘Whatever [Apple says] is going to be discounted by the analysts –I hate that,’ Cramer said. He reiterates one of his more commonly used mantras, ‘own Apple, don’t trade it,’ but warns investors about some difficulties in owning Apple coming into the company’s third quarter earnings report. ‘Here’s the problem,’ Cramer said. ‘If you own it, be aware that the estimates have crept up, crept up, crept up and there will be someone who decides it’s too high.’ Cramer says that there will be always be someone to say that the estimates are too high. Cramer wants investors to be careful when owning the Cupertino-based tech company for when the estimates come back down a touch. Jim Cramer’s charitable portfolio, Action Alerts PLUS, currently owns Apple as part of its portfolio holdings.
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