Can Apple Continue to be a Driving Market Force Amid Coronavirus Pandemic?

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The Cupertino tech giant is scheduled to deliver its financial results on July 30 with FactSet projecting adjusted earnings per share of $2.02. 

Expectations for the quarter have been much more divergent this time due to the coronavirus pandemic and the fact that Apple did not provide guidance for the fiscal third period. So what do investors need to hear from Apple?

Apple Maven Daniel Martins said a lack of consensus on expectations from Wall Street analysts make it hard to make a judgement call. 

"If you look at the range it's all over the place. Analysts are going from $1.50 a share to $2.50 a share so even the analysts are unsure what to expect," said Martins.

So what should you take into consideration when making a decision on Apple stock?

Investors are going to look for a couple of things Martins explained. "They probably want the iPhone to be a little bit stronger this quarter than compared to the beginning of the 2020 quarter."

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Aside from the iPhone, China is also playing a role in the per-share earnings price. "China is about two months ahead in the coronavirus cycle compared to the U.S.," Martins said, adding, "China hasn't been very good in the past couple of years but maybe this is the time for China to shine."

But as always, the iPhone isn't be forgotten either. The iPhone is traditionally a focal point in Apple earnings, but how big of a worry is the coronavirus and its potential impact on sales? 

If we look to China there seem to be signs of positive news. TheStreet senior tech editor Nelson Wang shared that "June and July are pretty encouraging as far as sales number go. The coronavirus impact seems to be a little bit muted now."

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This is due in part to the fact that a lot of Apple partners are back to business and producing as much as they can. However, there is still so much uncertainty surrounding the coronavirus and the tech giant doesn't want the majority of their revenue coming from one product, Wang said. 

"The iPhone still accounts for 50% of Apple's revenue. They're trying to get it down and reduce their dependence on it as people upgrade their phones less often," Wang said. 

Can iPhone sales continue to rise if unemployment spurred by the coronavirus pandemic continues to rise? 

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