Apple Tastes Bitter Ahead Of Q2 Earnings: Tech ETFs To Watch
Zacks Investment Research | Apr 30, 2018 12:00AM ET
Technology giant Apple (NASDAQ:AAPL) is set to release second-quarter fiscal 2018 results on May 1 after market close. Since Apple accounts for over 19% of the total market capitalization of the entire technology sector in the S&P 500 index, it is worth taking a look at the company’s fundamentals ahead of its results.
After the excellent surge at the start of the year, Apple has been the victim of a broad tech rout, losing 4.1%. This is wider than the industry’s loss of 3.8%. The underperformance is expected to continue given that Apple has an unfavorable Zacks Rank and earnings estimate revision trend ahead of its Q2 report (read: Zacks Investment Research
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