NEW YORK ( TheStreet) -- Serial earnings beater Apple ( AAPL) reports after the bell today and shares could use another shot of the earnings magic the company has displayed over the past year. PowerShares QQQ ( QQQQ) is the ETF to play a rebound in Apple shares if that indeed takes place.Apple's stock has declined for more than a week due to reception problems with their new iPhone. When left-handed users are holding the phone, the natural placement of their hand can cause it to lose reception and drop calls. Apple's response was ham-handed, at first saying the problem was software related, then acknowledging it was an antenna malfunction. Last week, the company said it would supply free phone cases for customers having issues with existing phones, as well as offer rebates for consumers who want them. The company is working to correct the problem permanently for new phones. The hit to shares derailed the otherwise steady performance of Apple stock. Since announcing earnings in late April, shares had climbed as much as 10% by late June, compared to a 10% decline in the S&P 500 Index. As the reception problems became widely known, Apple's gains evaporated and it now has a slight loss since April 20.