Jim Cramer: You're Nobody Unless You're In Apple's App Store
Ready for Apple earnings on Thursday after the bell?
Jim Cramer is.
Analysts polled by FactSet are expecting earnings of $2.04 and revenue of $52.13 billion for the quarter ending June 30.
In the antitrust hearing with Congress, where CEOs from Apple, Amazon, Facebook and Google were grilled about their companies and how they approach competition, Cook was asked about the app store.
Cook defended Apple against criticisms by lawmakers that it stifles competition through restrictive developer fees and terms. Members of the committee cited Apple internal documents suggesting that Eddy Cue, Apple's senior VP of software and services, rejected e-book apps from publisher Random House as leverage in forcing the bookseller to join its own e-book marketplace. Other documents showed Apple purportedly rejecting children's content screening apps in favor of pushing users to Apple's similar Screentime feature.
Cook countered by saying that apps can be rejected for any number of reasons, and described the App Store as a "wide gate" that has allowed millions of apps over the years. Cook also noted that Apple has never raised its App Store fees, and that a large majority of apps (84%) are not charged any fees at all.
Does Jim Cramer think that the hearing will have any impact on what's said or reported in Apple's earnings?
Watch the video above for more.
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