CUPERTINO, Calif. (TheStreet) -- Apple (AAPL) investors are confident the tech company will deliver strong second-quarter results after the market close today, its falling stock price notwithstanding.
"Apple is firing on all cylinders, especially in China," said Ernie Varitimos, who runs the Apple Investor Trade Room, in an email to TheStreet. "I'm expecting Apple to have another blow-out quarter -- the real mystery is how will the market react?"
|Apple investors are confident ahead of the tech giant's second-quarter results.|
The Cupertino, Calif.-based firm is coming off a stellar first quarter, which saw the company blast past analysts' estimates, boosted by impressive holiday season sales.
Chad Brand, president of Peridot Capital Management and author of the Peridot Capitalist blog, said a repeat of the first quarter could be a stretch."I would expect a strong quarter, as usual, for Apple," he wrote in an email. "A blowout on the magnitude of last quarter is far less likely, though nothing would be surprising." Apple sold a massive 37.04 million iPhones, along with 15.43 million iPads, and 5.2 million Macs during the first quarter, setting the stage for a major earnings and revenue beat. Brand, however, told TheStreet that he's not overly concerned about individual product performance. "As a long-term investor, the details about each product line (shipment figures, etc.) don't concern me that much," he said. "I am really interested in an Apple TV product as the next catalyst for the stock, but we won't get any details on that until the last minute, so a few quarters of waiting still remain." Rather, the Peridot Capital president wants the results to inject some life into Apple's slipping share price. "My hope for this quarter would be that the numbers are strong enough that the stock can get back to the low- to mid-$600s, where it was recently," he wrote. "My fair value target is in the $700 range, before seeing the forthcoming TV product."
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