Jim Cramer on China: We Want Trade War, Not Cold War
Apple reports earnings after the bell on Thursday, July 30.
Analysts polled by FactSet are expecting earnings of $2.04 and revenue of $52.13 billion for the quarter ending June 30.
And one concern is the ongoing tensions between the U.S. and China.
"COVID-19 has made this one of the toughest quarters to form high-conviction expectations. But I believe financial results will be supported once again by services, as consumers continue to spend lavishly from home," said Daniel Martins, a financial researcher who writes about Apple. "The iPhone should be a story of pros and cons, with the April launch of the SE and earlier recovery in China helping to offset what should be a very weak North America market.”
During a live, special edition of Street Lightning, Jim Cramer and Katherine Ross took questions from viewers about Apple.
Sheila McMahon asked: How badly can the Cold War brewing between U.S. and China hurt Apple?
Jim Cramer said, "We want a trade war, not a cold war."
He noted that a trade war allows Apple to continue to have employees in China, but with a cold war, they must pull those employees out.
You can follow Katherine Ross on Twitter at @byKatherineRoss.
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