What to Watch Tuesday: Apple Earnings, S&P Case-Shiller Home Price Index
On Tuesday, July 26, all eyes are on Apple's (AAPL) - Get Report earnings. Analysts expect the technology giant to post earnings of $1.38 a share on sales of $42.1 billion after the markets close. During the same quarter a year ago, the company posted earnings of $1.85 a share with revenue of $49.6 billion. iPhone sales are expected to decline for the second straight quarter. 'It's going to be hard for Apple not to beat the number,' says David Nelson, chief strategist at Belpointe Asset Management. 'The estimates have been lowered constantly - analysts continue to lower their target on the company.' Before the markets open, 3M (MMM) - Get Report , JetBlue Airways (JBLU) - Get Report , McDonald's (MCD) - Get Report and Verizon Communications (VZ) - Get Report report quarterly results. On the economic calendar, the S&P Case-Shiller Home Price Index for May is released, along with June new home sales and consumer confidence for July. TheStreet's Scott Gamm reports from Wall Street.
