Cramer: People 'Don't Care' If iPhone Sales Are Low

Investors expecting Apple Inc. AAPL to post strong iPhone sales metrics when the company reports its fiscal second-quarter results on Tuesday might be disappointed — but they shouldn't be.

CNBC's Jim Cramer highlighted during Monday's "Stop Trading" segment findings from a UBS survey, which suggested an all-time low level of iPhone sales in the soon-to-be-reported quarter. But Cramer thinks investors not only "don't care" but should think this is a very encouraging sign.

Cramer added iPhone sales should now be at a low given high expectations for the soon-to-be-released iPhone 8.

"If there really is a supercycle for the [iPhone] 8 things should be pausing here," Cramer said. "I'm not concerned about it."

What Does Matter

Acknowledging the "right attitude" is not to care about iPhone sales, Cramer very much cares about Apple's performance in its Services, and this is where the stock can move higher. Specifically, any talk of the Services revenue stream being greater than a Fortune 100 company would imply investors are willing to "pay more for the earnings."

Moving on to Apple's large cash hoard, Cramer isn't expecting Apple's CEO Tim Cook to offer any substantial plans given the ongoing uncertainty over President Donald Trump's tax plans and its impact on overseas capital.

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