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Hedge Fund Manager Previews Apple’s Earnings, Expects Lowered Guidance

Hedge Fund Manager Previews Apple’s Earnings, Expects Lowered Guidance

Speaking to Benzinga, Able Capital Management Chief Investment Officer Joshua Van Dress said that he expects Apple Inc. AAPL 1.56% to take a hit against its earnings due to foreign currency fluctuations, similar to other firms expanding internationally.

Van Dress thought Apple would still beat expectations but “not by the usual 8 to 10 cents.” The beat would “be by very, very slim margins” and he expected the company to lower its guidance.

Apple reports Q1 earnings after the close on Tuesday and the Street expects revenue of $67.69 billion with EPS of $2.60.

Heading into the earnings release, the stock was down 1.72 percent to $111.16.

Latest Ratings for AAPL

Date Firm Action From To
Jan 2015 Evercore Partners Maintains Buy Buy
Jan 2015 Deutsche Bank Maintains Hold Hold
Jan 2015 Jefferies Maintains Hold Hold