From 2019 lows - Apple stock has went from under $40 to almost $200 - close to 500% gain. But in five years, their revenue has not gone up 500%. Hack - its not even doubled. Their revenue increased from 265 Billion a year to roughly 400 Billion dollar a year. Their earnings have doubled but does not justify 500% gain in the stock price.
Apple has lot of issues to cover up - Their profit margin is not growing anymore. They are expected to announce 4th quarter in a row -where they are going to show declining earnings and profit. Their iphone sales are not climbing in year over year data. Their growth market China has already ban them for government use.
Apple is currently valued at 29 P/E ratio - highest it has ever been traded. Usually, third quarter is Apple's worst quarter (as they sell more stuff during holiday's season - 4th Quarter). So I would be not even cautiously optimistic, I would be very cautious on going into ER.
Overall, market might be looking at Job data as prime indicator than Apple's earnings, but if it gaps up - it will most likely be sold. From technical chart perspective, it does look like it is going to visit 157 mark at some point. Perhaps not immediately after ER, but at some point.
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