Apple (AAPL) May Dip Down

Apple (NASDAQ: AAPL) is scheduled to report its first quarter earnings after the close of the market.

Talking with CNBC, Mike Abramsky, Managing Director with RBC Capital Markets, said that Apple is expected to beat the market consensus. However, he also cautioned that the company may report the guidance at the below-expectations levels.

According to Abramsky, Apple has a number of opportunities lying ahead of it and is expected to maintain its margins. He said that the stock has potential to move higher in the future, but is likely to experience a pullback in near-term. He reiterated his ‘outperformer’ rating for the stock and has given a price target of $275.