Apple Inc. (AAPL) designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players and a variety of related software services, network solutions and applications. The stock is currently trading around $131.53 at the upper end of its 52 week range of $93.28-$134.54. The stock has been out performing the market this year rallying 18.78% year to date. AAPL is scheduled to report earnings after the closing bell today, and the stock is down $0.54 or 0.41% on the session ahead of the close.

Over the past 12 quarters AAPL has rallied on earnings day 7 times with an average move of 3.98%. The stock appears bullish on a chart going into the release having traded below and ripped through the top of the Ichimoku Cloud since mid-July on the daily bars. Over the past 12 quarters AAPL has rallied from earnings to the nearest options expiration 6 times with an average move of 4.78%. The stock looks as if it could rip to the upside in today’s session following the recent bullish trend. Investors are expecting to see how the company performs after the public expects a low sales number on the watches. Other investors have looked to the East for positive sales number as the company continues to dominate China in iPhone sales.

The options market is currently implying a move of around $6.26 or 4.8% in AAPL by this Friday’s close giving us targets of $125.27 and $137.79.

Andrew Keene

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