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It's Do or Die Time for Apple Bulls

Apple's (AAPL) stock is up about 30% year-to-date to $149.50 as of Friday's market close, just days before it reports third quarter earnings on Tuesday, Aug. 1. However,'s (AMZN) more than 30% rise for the year certainly didn't help its earnings this week.

Apple is expected to report earnings of $1.57, up from $1.42 in the year ago period, according to analysts surveyed by FactSet. Revenue is expected to rise to $44.9 billion, vs. $42.4 billion in the 2016 third quarter.

Apple is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL? Learn more now.

The Cupertino, Califo-based company will be the last of the big cap tech companies to report earnings this season. On Thursday, Amazon reported a shocking earnings miss of 40 cents per share vs. expectations for $1.42 per share. While analysts seem to be forgiving due to Amazon's long-term growth plan, it's up to Apple to close out the earnings season with a bang.

However, the third quarter is historically soft for Apple as it's the down season before Apple typically launches a new iPhone model in...