One of the biggest companies in the world is about to report earnings: Apple. The iPhone maker will release its quarterly results after the bell Tuesday in one of the most closely watched earnings releases of the reporting season.
The company has a fine line to tread here, according to Gina Sanchez, CEO of Chantico Global. “I’m not sure that expectations are that low. I mean, the expected consensus number is $2.09, but the whisper number is actually $2.18. So, I think there’s actually some built-up expectation,” Sanchez said Monday on CNBC’s “Trading Nation.”
The technical setup for Apple looks strong heading into earnings, according to Ari Wald, head of technical analysis at Oppenheimer.
“It sets up positively how we see it,” said Wald. “As we look back at these very, what was wild trading swings in Apple, those swings have narrowed. I think we’re now in a position where the stock is showing signs of breaking to the upside, that it’s reversing the downtrend that it had been in since October.”
MacDailyNews Note: As usual, we’ll bring you Apple’s results right around 4:30pm EDT today and then cover Apple’s conference call with analysts with live notes starting at 5pm EDT.