Apple is expected to report low earnings for the second quarter of the year, when the numbers are announced on Tuesday (July 24th).
The American firm has consistently been able to surpass Wall Street expectations but few experts are expecting the company to deliver such a bumper three-month period tomorrow.
One of the main reasons for this is that the new iPhone 5 hasn’t been released yet and consumers are waiting to purchase it.
The iPhone 5 is expected to be released in October this year and there have been rumours abound that the device will let users buy products and share files through near field communications.
Portfolio manager at Granite Investment Advisors Tim Lesko told Reuters that Apple is no longer the firm that beats expectations every time.
“I expect Apple to beat Apple’s guidance, but I don’t know whether they will beat Wall Street’s guidance,” the expert continued.
Posted by Samantha Green