Apple Earnings Preview

Apple Inc. (AAPL) is set to release first quarter results after the close on Tuesday. Analyst are expecting AAPL to report earnings per share at $3.22 on $77.04 billion in revenue. However, all eyes will be on the sales of the new iPhone 7 following holiday sales to see if it can get AAPL out of the earnings doldrums its been in for the past few quarters. 

“Revenue from the iPhone is projected to increase by 3%, to $53.1 billion from $51.6 billion in the year-earlier period, on a slight increase in units sold.” –MarketWatch

AAPL tends to be a big mover after earnings so we can expect plenty of traders will be watching this one.

APPL Technicals

(Click on image to enlarge)

Looking at the daily chart above you will see that shares have been fairly strong the past few months with prices reaching levels it hasn’t been since late 2015. Some important levels to take note of are $30, $124, $118, $112 and 107.24 where the 200-day moving average currently sits. Look for shares to be extra volatile following their earnings release after the close on Tuesday.