The shares of Apple Inc.(NASDAQ:AAPL) slipped below $600 mark on Tuesday after trading in the range bound earlier in the session. Volume has spiked in the final hour as the company is juts 1.50-2 hours away from reporting their third quarter earnings.
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As we all know that Apple has history of reporting much better than estimated earnings due to its dominant position in the smartphone industry. However, this time investors as well as analysts are bit cautious stating that the company’s recent quarter’s sales could be slower due an anticipated launch of iPhone5 by the end of this year. How Should Investors React To AAPL’s Earnings, Get Free Analysis
As a tech lover, anyone would prefer to buy the latest technology and therefore buyers are estimated to postpone their buying until the company launches its upgraded version.
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Average analysts are estimating the company to report $10.36 a share in earnings and revenue of $37.18 billion. In a year ago quarter, the company had $7.79 a share on revenue of $28.57 billion. However, whisper earnings are estimating the company to report $11.89 a share. Not only profit and revenue is going to be critical, investors and analysts around the globe would look for the company’s sales of iPhone, which contributes the majority of revenues.
Also, comments from the company would be closely watched regarding upcoming updates, net profit and net revenue target. In its last quarter, the company guided to earn $8.68 a share on revenue of about $34 billion. The company sees Q3 gross margins falling to 41.5%.
Shares of AAPL are now down 0.77% to $599.19 with forty minutes of trading are still left.