Apple, McDonald's Headline Earnings Wednesday

Tickers in this article: AAPL CRUS JPHT MCD MMM MSFT T UNP UTX
NEW YORK ( TheStreet) -- Today I profile another five Dow components and four other companies that report quarterly results on Wednesday and Thursday. Included today is my latest update on Apple (AAPL) which reports tomorrow after the close. On Monday, I profiled nine stocks that report quarterly results today in How to Trade the Big Stocks Reporting Earnings Tuesday.

At www.ValuEngine.com we show that 41.4% of all stocks are undervalued, and that all 16 sectors are overvalued. Here are the latest sector readings. Note that 12 sectors have elevated trailing 12 months price-to-earnings ratios.

Among today's nine companies one is rated strong buy, five are rated buy and three are rated hold, five are undervalued by 0.5% to 32.0% and four are overvalued by 6.1% to 9.1%. Only two are down over the last 12 months, and all seven of the winners show double-digit gains of 15.0% to 41.6%.

All are expected to be higher 12 months from now with projected gains of between 3.3% and 12.2%. The trailing 12 months P/E range from 10.4 to 24.4. We show 5 of 9 above their 200-day simple moving averages reflecting the downside risk of a reversion to the mean.

Reporting before the open on Wednesday McDonald's (MCD) ($92.26) is expected to earn $1.33 per share. MCD set a multi-year high at $102.22 on Jan. 20, 2012, then a 52-week low at $83.31 on Nov. 16 with the stock above its 200-day SMA at $90.37. The daily chart shows an overbought condition and the weekly chart is positive with the five-week modified moving average at $89.77. The stock has a buy rating with my monthly value level at $80.05 with a weekly pivot at $92.56 and semiannual risky level at $96.07.

Reporting before the open on Wednesday United Technologies (UTX) ($86.95) is expected to earn $1.02 per share. UTX is approaching its 52-week high at $87.50 set on March 15, 2012 after setting a 52-week low at $70.71 on June 5, 2012. UTX is above its 200-day SMA at $78.17. The daily chart shows an extremely overbought condition and the weekly chart is positive and will be overbought this week with the five-week MMA at $82.79. The stock has a buy rating with my quarterly value level at $80.70 with a weekly pivot at $87.72 and annual risky level at $88.74.

Reporting after the close on Wednesday Apple (AAPL) ($500.00) is expected to earn $13.47 per share up from $13.43, the estimate posted last week, which is surprising given recent share price weakness. Apple set an all time high at $705.07 on Sept. 21 then traded as low as $483.38 last week with the stock below its 200-day SMA at $594.45. The daily chart is negative with the weekly chart oversold and with the five-week MMA at $530.09. The stock has a buy rating with a weekly value level at $473.95 with my annual pivot at $510.64 and monthly risky level at $604.86.