Timing Your Apple Entry Points
Go talk to the guys who were loaded for the "sure thing" earnings report last October when Apple dropped from $424 to $390, then to $380, then to $370, then to $363 right when it should have been on its holiday stock run.
The uncertainty of an earnings report is rarely worth the risk. As investors, we assume that earnings will reveal the fundamentals of a company, but that isn't always the case. Quarterly reports are influenced by the calendar and the calendar can cause investors to misinterpret the data.
There is no bigger Apple bull on the street than I am, but I do recognize the need to be in tune with short-term momentum that can be influenced by the calendar.
The standard that Apple set in the fourth-quarter with 37 million iPhones sold was due to the pent-up demand caused by the delay in the iPhone 4S. That number is the main reason why current consensus estimates are in the 32-million-to-33-million unit range.