Count Apple (NASDAQ: AAPL) among the bellwether companies reporting earnings this week.
The iPhone maker is scheduled to deliver fiscal third-quarter results on Thursday, July 30, and analysts are calling for earnings per share of $1.88 on sales of $108.8 billion
Of course, Apple is a tech stock, but its consumer tie, which is nearly unmatched in the tech sector, may be a reason to buy the stock ahead of earnings. Last month, CEO Tim Cook said Apple is planning price hikes on some devices to offset soaring semiconductor costs for memory. That announcement arrived as consumers were already dialing back on other fronts, indicating that any constructive commentary from Apple regarding consumer demand could be a near-term catalyst for the shares.
Something for investors to keep an eye on is what the company has to say regarding iPhone demand. There’s speculation, though it’s unconfirmed, that the company is bracing for a decline in iPhone demand amid surging hardware costs. If that notion is dispelled or it’s proven that consumers are still engaged despite higher prices, the stock could rally.