“The stock market is heading into a busy week of earnings season and all eyes will be on Apple, which is scheduled to report earnings after the close Tuesday,” Bret Kenwell reports for Philly.com.
“‘I expect a not-great number,’ TheStreet‘s Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said from the floor of the New York Stock Exchange,” Kenwell reports. “Cramer says he stock has too many buy ratings from the analysts. Until those analysts turn less bullish, the stock will have a hard time bottoming.”
Kenwell reports, “That’s why Cramer’s looking for analysts with ‘soft buys’ to downgrade the stock.”
Read more in the full article here.
MacDailyNews Note: We’ll soon see.
On April 26, 2016, Apple provided the following guidance for Q316:
• revenue between $41 billion and $43 billion
• gross margin between 37.5 percent and 38 percent
• operating expenses between $6 billion and $6.1 billion
• other income/(expense) of $300 million
• tax rate of 25.5 percent
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