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When Jim Cramer Would Buy Apple Stock

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Apple  (AAPL) - Get Free Report will be reporting earnings later this week. 

So, what should investors expect from Apple and when is it time to buy Apple?

First, let's take a look at what analysts are expecting from the earnings. 

"With regard to implications on the 5G cycle from the upcoming print, the focus will be on guidance, which we forecast to track above expectations despite understandable cautiousness driven by the limited visibility into sales velocity for the yet to launch iPhone 12 Pro Max and 12 mini. We remain positive on shares of Apple led by the combination of: 1) strong demand for both legacy and new 5G iPhones; 2) leverage of strong revenue opportunity through industry-leading innovation in Wearables; and 3) strong and resilient Services portfolio, benefitting from large and growing installed base of users; reiterate Overweight rating and Dec-21 price target of $150," wrote JPMorgan analysts in their preview of Apple's earnings. 

And Deutsche Bank analysts wrote, "With only a week of new iPhone sales by the time earnings are reported on 10/29, we are unsure that AAPL will feel comfortable with guidance (note they have not guided officially since January, and for the Dec-qtr, they typically have 1.5 months of new iPhone sales data prior to guidance, a luxury they don't have for this iPhone cycle). We had previously modeled conservatism in our estimates after the Jun-qtr results, expecting a later iPhone release than was announced, and are thus adjusting our model, moving Mar-qtr iPhone revenues earlier into the Dec-qtr. As a result, we now find our estimates closer to Street estimates for the Dec-qtr and Mar-qtr."

Jim Cramer gives investors his own insight and his advice on when to pick up shares of the stock. Hint: It has a lot to do with the upcoming earnings report. 

More of What Cramer Is Watching Monday: 

You can follow Jim Cramer and Katherine Ross on Twitter at @JimCramer and @byKatherineRoss. Read more from Katherine Ross here.

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