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07-23-2013, 12:11 PM #1
AAPL Lower on The Day Ahead of Today's Earnings Report
Shares of AAPL are trading nearly $3 lower as of 2:00 pm EST today. The Cupertino, California-based tech giant will announce its third-quarter earnings later this afternoon after markets close.
Analysts have forecast quarterly revenue of $35 billion for Apple with an earnings-per-share of $7.30. Should Apple blow past the projections, the stock could get a healthy mid-summer pop. If, however, Apple once again disappoints, shares could easily fall south of $400 once again.
According to the general consensus among Wall Street watchers, investors are looking for inspiration to get back into AAPL's pool. Since late 2012, shares of Apple have fallen precipitously from September's all-time high of $702.
Traders, investors, and journalists will also be listening closely to the subsequent earnings call with Apple CEO Tim Cook in hopes of gleaning some insight into what Apple may have planned (in terms of new or refreshed products) for the remainder of 2013.
MMi will bring you complete coverage of today's earnings report shortly after the data is released.