Today we are watching…
1. Apple (#aapl)
Apple is ready to publish its earnings and the whole investment world will be watching closely for signs of life. While its iPhone segment struggled slightly, its services business (Apple music/pay/care) became its new cash cow, bringing in 19.1% of sales revenue in Q1. Non-iPhone purchases and wearables also contributed a significant amount to its top-line growth which may filter through positively into the company’s report today. The EPS estimate is $2.36 (-13.6%) on revenue of $57.4bn (-6.1%).
2. General Motors (#GM)
GM is hoping to follow in the footsteps of Ford, which blew investors away with some unbelievable results. GM has outperformed its industry over the last three months, rising 3.1% compared to the average of 1.1%. Even though sales declined slightly in the first quarter, there was a marked increase in demand for the more profitable SUVs and pickup trucks which may bode well for today’s announcement. At this point its hard to tell if this will be enough to drive an earnings beat, but we’ll just have to wait and see!
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