This Hedge Fund Manager 'Wouldn't Be Surprised' If iPhone Units Hit 60 Million

Rev. Emmanuel Lemelson is a frequent guest on #PreMarket Prep, a daily trading idea radio show hosted by Joel Elconin and Dennis Dick.

Lemelson Capital Management Chief Investment Officer Rev. Emmanuel Lemelson discussed Apple Inc. (NASDAQ: AAPL) ahead of its earnings release.

“Chances are they’re going to break all the estimates, I wouldn’t be surprised if they hit 60 million iPhone units,” Lemelson said.

Lemelson suggested that investors move their focus away from quarterly reports, however, and look at Apple from a long-term perspective.

Related Link: Apple Likely To Break 'All Records' In March Quarter

Questions about the company’s capital return program with potential dividend increases and buybacks that could have a positive and “huge impact on EPS,” are issues investors should consider in Lemelson’s view.

Lemelson also noted Apple is one of the few companies that controls both hardware and software while also supplying successful desktop and mobile platforms, which could be promising for enterprise sales.

Apple reports Q2 earnings after Monday’s close. The stock recently traded at $132.86, up 1.98 percent.

Listen to the show here: