NEW YORK (TheStreet) -- Shares of Apple Inc (AAPL) - Get Report were up 1.91% to $132.10 in afternoon trading Monday, one day ahead of the iPhone maker's latest quarterly earnings results, due out after the market closes on Tuesday.
For the third quarter, Wall Street is expecting earnings of $1.80 a share on sales of $49 billion, according to analysts polled by Thomson Reuters.
In the same quarter of last year, Apple earned $1.28 per share on revenue of $37.43 billion.
"The iPhone continues to drive sales and this quarter should be no different, as consumers continue through upgrade cycles into the latest iterations of what some consider the smartest phone around," TheStreet's Sebastian Silva wrote in a recent post on RealMoney.com.
"Investors will also be curious to gauge the uptake on the demand for the Apple Watch, the latest product addition to the Apple ecosystem," Silva continued.
Shares of Apple have risen nearly 20% so far this year, and gained roughly 40% over the past 52 weeks.
Apple designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, as well as a variety of related software, services, peripherals, networking solutions, and applications.
The company is based in Cupertino, Calif.
Insight from TheStreet's Research Team:
Apple is a core holding of Jim Cramer'sAction Alerts PLUS Charitable Trust Portfolio. During the most recent weekly roundup, this is what Jim Cramer, Portfolio Manager and Jack Mohr, Director of Research - Action Alerts PLUS had to say about the stock:
Apple ( AAPL:Nasdaq; $129.62; 820 shares; 4.03%; Sector: Technology): Shares of Apple ripped this week on little news. We expect the company to report strong third-quarter fiscal 2015 (September) results next Tuesday after the close, with fiscal fourth-quarter guidance that is at least in line with sell-side consensus. While Watch demand likely has slowed sharply, we expect strong iPhone sales to more than offset the drag.
This is significant given lighter-than-expected handset sales from Android flagships, which we see as further evidence that more consumers are choosing mobile computing platforms rather than handset features.
We believe Android-based devices lack a cohesive platform, and expect the bifurcated results to continue to become more pronounced.
In fact, we believe we are seeing the beginning of the end of the Android flagship phones. Like Apple's dominance of the high-end PC market, the same is being repeated in the handset market. Our target remains $150.
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Separately, TheStreet Ratings team rates APPLE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate APPLE INC (AAPL) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, robust revenue growth and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
You can view the full analysis from the report here: AAPL Ratings Report