Last week, the iPhone manufacturer announced that its revenue for its upcoming quarter would fall short of Wall Street expectations. The company announced that it was slashing revenue to $84 billion from $91.5 billion.
"I would be afraid to buy Apple if I lived [in China]. Because the communist party is all-seeing and all-knowing," Jim Cramer told TheStreet last week.
Stephen Guilfoyle, a contributor for TheStreet's sister site, Real Money, agreed with Cramer's opinion.
"I used to do a lot of Chinese television, and, if the reporters who worked for the Chinese networks wanted to speak freely and there was no way they were being overheard, they would turn off every device and they would walk away from the other employees," he said on TheStreet's Trading Strategies podcast.
"So I do that there is definitely fear of being overheard if you're going to say something or do something trackable that is not supportive of the administration over there," he continued.
Apple is a holding in Cramer's Action Alerts Plus portfolio.