Apple's upcoming earnings report presents little room for error, according to Jim Cramer.

CNBC's Jim Cramer stated on Wednesday that there is little room for error in Apple's (AAPL) upcoming earnings report.

Apple's fiscal 2023 fourth-quarter earnings per share are expected to be compared unfavorably to analyst estimates when the results are released after the market close on Nov. 2.

"Squawk on the Street" host Cramer stated that one penny is sufficient to bring down the stock of the company he owns through his charitable trust, which is used by the CNBC Investing Club.

Cramer responded to Deutsche Bank's research note that lowered Apple's price target to $200 per share from $210. The analysts kept a buy rating on Apple stock and predicted that the company's results would mostly meet Wall Street expectations.

Deutsche Bank revised its outlook on iPhone 15 sales in Apple's fiscal 2024, stating that it may have been too optimistic due to increased competition in China.

Investors and analysts have been closely monitoring data sources and tracking metrics to determine demand for the latest iPhone, which is crucial to Apple's financial health. However, Cramer warned that the quarterly results next week will only include one week's worth of iPhone sales.

Over the past three months, the value of Apple's publicly traded shares in the U.S. decreased by more than 11%, while the S&P 500 experienced a roughly 8% decline.

Cramer stated that Apple remains "the most crucial stock in the market."