Shares of Apple are trading at a record high, up 0.9%, or $US1.31, at $US147.89 a share, ahead of its second quarter earnings report, which is scheduled to be released following Tuesday’s closing bell.
Wall Street analysts surveyed by Bloomberg are expecting the tech giant to report earnings of $US2.02 per share on revenue of $US53.06 billion. Other metrics to watch include gross margin (38.71% expected) and iPhone sales (52.21 million expected).
In addition, analysts will be paying close attention to Apple’s cash hoard, which could top $US250 billion.
Shares of Apple are up more than 27% so far in 2017.