Jim Cramer -- Apple iPhone Sales Could Surprise; HP Still a Concern

NEW YORK (TheStreet) -- Shares of Apple (AAPL) are higher by 1.9% on Thursday, following positive commentary from UBS' Steve Milunovich, who suggested that iPhone sales in China could be stronger than expected. 

For the upcoming quarter, Milunovich is above Wall Street expectations, looking for Apple to sell 51 million iPhones compared to the consensus of 45 million, said TheStreet's Jim Cramer, portfolio manager of the Action Alerts PLUS portfolio, on CNBC's "Stop Trading" segment. 

AAPL Chart
Apple AAPL data by YCharts

This is noteworthy, because many investors were worried about a slowdown in China, as well as an overall slowdown in smartphone sales. So this report is what's got the stock moving higher, Cramer said. 

Turning to Hewlett-Packard (HPQ), analysts at Citigroup are cautious on the stock, saying the U.S. dollar could negatively impact its earnings results when the company reports on May 21.

Cramer also preached caution on the stock, but because of previous comments by Cisco Systems' (CSCO) CEO John Chambers, who said the company was losing its mojo. 

However, Cramer did acknowledge that the weak U.S. dollar could be a benefit to Hewlett-Packard going forward, now that the greenback has hit a four-month low.

At the time of publication, Cramer's Action Alerts PLUS had a long position in AAPL and CSCO.

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