Image via Reevoo
Last week Intel, Google and IBM put up modest to strong numbers as quarterly earnings were announced. Today is Apple's turn. And even though Apple's stock has already doubled so far this year, with Steve Jobs back in charge and the current slate of Macs, iPhones and iPods continuing to outperform sales expectations, I look for Apple to post strong quarterly earnings today.
According to a report this morning from RTT News, both the financial and tech industries are ready for a rock 'em, sock 'em number that will show Apple's strength and help light a fire under the company as it likely prepares to roll out new products or product upgrades in the weeks and months ahead.
Apple is also reportedly planning to offer a tablet-sized computer in time for Christmas shopping. The computer can be connected to the Internet like Apple's iPod Touch and its screen may be up to 10 inches diagonally. Book publishers have reportedly been in discussions with Apple about offering their services on the new device, which could compete with Amazon's (AMZN) Kindle.
JMP Securities last month upgraded Apple's shares to "Market Outperform" from "Market Perform" with a price target of $200.
Apple's future is so much tied to Steve Jobs' health that any speculation about his health has sent jitters among investors. Considered the 'idea man' behind Apple's innovative products, Jobs was recently found to be the most admired person in a survey conducted among 1,000 American kids aged 12 to 17.
Apple will formally announce its quarterly earnings today after the markets close, later Monday afternoon.