NEW YORK (TheStreet) -- We don't generally trade prior to earnings but both technical and fundamental factors are suggesting a long play on Apple (AAPL) prior to the earnings announcement later Tuesday.
Wall Street has been riding high on AAPL for some time now and expects it to report $1.22 per share in earnings for for its fiscal third quarter, an increase of over 10% year over year. So the company is making money.
What else is new? From a fundamental perspective, the breaking news is Apple's recent deal with IBM (IBM). These long-time competitors are now teaming up to ride the tablet and app wave. According to Forrester Research, business and governments (i.e. enterprise) spent approximately $11 billion on iPads alone in 2013.
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