Estimates are for $2.36 EPS and Revenues of $57.4B.
Another key earnings report will be released after the close with Apple reporting their earnings.
The estimates are for:
- $2.36 EPS
- revenues of $57.4B.
- Gross margins are expected at 37.7%
- iPhone revenues of $31B.
- Service revenue is eyed at $11.4B.
- The market will also be looking for Capital return in the form of buy backs or dividends.
Apple's stock tumbled to a low of $142.19 in January but has risen to a high last week of $208.48. The price has back tracked into earnings and trades at around $201 currently.
Technically, the 200 day MA is down at $191.97 as is a trend line connecting the low from January and March. A move below that KEY level would be needed to sour the bullish bias.
Absent that, getting above the high would have traders eyeing a gap from November 1 and November 2 between $213.65 and $216.81
