Apple Inc.(NASDAQ:AAPL) Gapped Down 2.50%, Now Below $600 Mark

The shares of Apple Inc.(NASDAQ:AAPL) gapped down this morning and slumped over 2.50% to $588 as the broader markets were hammered down with the DOW plunged over 200 points. Moreover, investors are awaiting APPL’s third quarter earnings on Tuesday after market hours.

Although the Wall Street is very much optimistic on the earnings growth with both the profit and revenue are estimated to rise significantly, but several analysts believe that the company could fail to meet earnings target considering users may be delayed their iPhone purchase due to an expected launch of iPhone5 later this year.

Can APPL Jump To $1000 By This Year, Get Trend Analysis

An analyst at Pacific Crest Securities in Portland predicts that the company may sell about 25.4 million iPhones, he estimates, compared with 35.1 million in the previous quarter. “It’s going to be bad now, but great later.”

Last year for the quarter ended September, the company had missed analysts’ estimates as users had postponed their buying of iPhone ahead of launch of 4S release in October.

How Should Investors Trade Before Earnings, Get Here

But one should note that this would a temporarily postponed and the company should continue to show solid growth once it comes out with iPhone. The company is projected to launch latest version of iPhone by October this year.

On an average analysts are estimating the company to report $10.35 a share, compared to a year ago profit of $7.79 with revenue is projected to grow by 30.30% to $37.23 billion, from $28.57 billion a year ago quarter.

Shares of APPL are expected to be volatile in today’s session as well as tomorrow’s session. Investors need to a have close eye on the stock and may find value buying opportunity, if the company fails to meet the Wall Street’s estimate.