The Apple Q2 Earnings call tomorrow is expected to be one big disappointment. Is there are chance that Apple will surprise? Analysts do not think so and predict dropping profits for the first time since 10 years.
The AAPL stock is under pressure and closed on Friday well below $400. Reports from Apple suppliers have sent the stock under the $400 mark last week. These reports paint a picture of lackluster iPhone sales.
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Bloomberg reports that fourteen analysts have corrected their estimates downwards over the past weeks ahead of the Q2 earnings numbers Apple will present tomorrow. The compiled analyst estimates say that Apple's net income will drop 18% for the quarter. Revenue rises by 8%.
The big question is now if Apple can surprise with healthy number or if the company had really a "bad" quarter. Apple was flying so high, that their number will not really be bad, but could be only average.
There is also the usual rumor mess going on ahead of the Apple Q2's results that try to push the stock in a direction. Fortune has rundown of them including a rumor that Tim Cook CEO job is under scrutiny.
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We will know more on April 23, 2013 at 2:00 p.m. PT / 5:00 p.m. ET.