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Jim Cramer sees little margin for error in Apple's upcoming earnings report

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“One penny, with this company, is enough to bring the stock down,” CNBC’s Jim Cramer said Wednesday.

The iPhone maker's fiscal 2023 fourth-quarter results are scheduled to be released after the market close Nov. 2, and Cramer expects Wall Street to be unforgiving when comparing Apple's reported earnings per share to analyst estimates.Cramer's comments Wednesday came in response to a research note from Deutsche Bank, which lowered its price target on Apple to $200 per share from $210.

However, Deutsche Bank said its previous outlook on iPhone 15 sales in Apple's fiscal 2024, which began in October, may have been too optimistic, citing increased competition in China., investors and analysts alike have been paying close attention to various data sources and tracking metrics to try to gauge demand for the device, which is key to Apple's overall financial health.

Shares of Apple — the most valuable publicly traded U.S. company — were down more than 11% over the past three months, compared with a roughly 8% slide in theElections

 

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