Apple is reports its Q2 earnings today at 5pm ET. Analyst expectations are mixed, but most see for the first time in years a lower profit.
All eyes are on Apple today. Apple stock has fallen over 40% over the last couple of months. It closed yesterday at $398, which is a bit higher than end of last week. Analysts predict that Apple's first profit decline since 10 years ago.
CNet reports that Apple is though also expected to post record sales for a second quarter. Which is interesting because there is lots of talk about declining iPhone sales. The big driver for declining profits are the lower gross margins Apple is able to get from its products. On the other hand nobody in the industry has such high gross margins.