Apple Inc (NASDAQ: AAPL) is scheduled to report its Q2 financial results on Thursday, after the bell. Ahead of earnings, the stock is up 5.0%.
Jon Najarian reveals his expectations
Peer Microsoft reported solid results for its recent quarter earlier this week, and similar would be the story for Apple Inc, said Jon Najarian this afternoon on CNBC’s “Halftime Report”.
The read through from Microsoft Corporation was that there is a big demand for Cloud. I think Apple will continue to have big demand for wearables, for services, for health. I think this will be a very good quarter.
The cofounder of MarketRebellion.com owns Apple both in stock and in options. The iPhone maker is expected to report $1.43 in per-share earnings for its fiscal second quarter.
Apple doesn’t need blow-off numbers
Investors have gotten used to seeing blow-off numbers from Apple Inc. While that might not be the case this quarter, Najarian noted, it hardly threatens the bull case for the tech titan.
I think stable numbers are good for the market here. As Meta showed, you don’t need blow-off numbers after stock’s been hit pretty bad. Apple is still bit of a ways away from that $183 high when it hit $3.0 trillion market cap.
His remarks come a day after famed Apple investor, Ming-Chi Kuo, warned the worst might be yet to come for the tech stocks. The tech-heavy Nasdaq 100 index is still down 13% for the year.
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