Jim Cramer: Wait to Buy Apple Until After Earnings

Jim Cramer has some advice for anyone looking to buy Apple.
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Jim Cramer is ready for Apple's earnings. Are you?

Analysts polled by FactSet are expecting earnings of $2.04 and revenue of $52.13 billion for the quarter ending June 30.

"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.”

One commenter wrote in, "I'm 20 years before retiring. New to equity market investing. I'm looking for growth in a retirement account as well as savings. When should I pull the trigger on Apple and buy?"

Cramer said that they should wait until after the earnings report is out and if the stock dips, then it's time to snap it up.

Part of that reasoning? Investors are going to want to hear about the 5G iPhone.

"For Apple investors, the biggest X factor that could affect shares is the timing of its next iPhone release. New iPhones are typically announced in September at a big in-person event, but for obvious reasons, the announcement will look a bit different this year. The phone could arrive later than normal, too: The Japanese Apple blog Mac Otakara reported last week that the 5G iPhone won't be ready until late October," wrote Annie Gaus in her walk up to earnings. 

Watch More: Apple Earnings Preview With Jim Cramer