October 17, 2010

Apple Reports Earnings Tomorrow

     Tomorrow is a big day for the tech giant as it releases its quarter results tomorrow after the close on Monday. You can bet that they will easily pass the street expectations and announce that this quarter was their biggest quarter in the companies history with the success of the iPad, the iPhone, and strong Mac sales. I am sure that Apples stock (AAPL) will rise above $350 in the coming months if it doesn't from the earnings this month.

     Apple is a strong company that dominates the mobile computing market. the iPad has successfully created a new niche in the computing market with its tablet. Which for me has replaced my laptop as the computer I cary with me everywhere. While not as powerful as the standard laptop, the battery life and its substantial capabilities more than make-up up for its lower processing power. The amount of apps for all iOS devices grow by the day ensuring there will always be something new and creative for the foreseeable future. Analysts are predicting Apple will sell over 40 million iPads next year.

     iPhone Verizon rumors have always been running rampant pushing the stock price higher than it has ever gone. While I personally won't believe it till I see it, the evidence is mounting that Apple will allow the phone on the other big US carrier. What evidence? Well Verizon will soon being able to sell iPads out of its corporate stores, the increasing threat of Android as it overtakes Apples market share, and rumored Apple CDMA chip orders all point to an iPhone on Verizon.

     All in all, Monday will be an important day for the tech industry. For those with Apple stock, enjoy the new highs.

The author of this article holds no positions in Apple(AAPL). 

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