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Cramer defends Apple amid AI criticism ahead of July 30 earnings
Apple’s next earnings call on July 30 will be Tim Cook’s final appearance as CEO, with Bank of America projecting revenue of $109 billion (+16% year over year) and EPS of $1.89.
Jim Cramer used Monday’s Mad Money to push back on tech commentators who have questioned Apple’s artificial intelligence progress, arguing that the company’s core consumer ecosystem remains intact. He said his Charitable Trust will not change its longstanding Apple position despite the criticism.
Cramer pointed to ongoing customer behavior around Apple devices, questioning whether any meaningful switching to other brands is actually happening amid delays or concerns about AI features. He also framed Apple’s approach as keeping its focus while other players invest heavily in AI infrastructure.
Ahead of Apple’s July 30 earnings report, Yahoo Finance notes Bank of America analyst Wamsi Mohan maintained a Buy rating and set a $380 price target. The firm projects an earnings beat with revenue of $109 billion, up 16.0% year over year, and EPS of $1.89.
Bank of America also flagged temporary hardware gross margin compression, modeling 36.8% in the third quarter and 34.1% in the fourth quarter due to component costs and staggered launch schedules, while viewing the impact as transitory. The upcoming call will mark Tim Cook’s final appearance as CEO, according to the same coverage.