Apple earnings (AAPL)—the most-anticipated report of the quarter—are due out on Tuesday.
Wall Street analysts are looking for the iPhone maker to report earnings per share of $3.22 on revenue of $77.4 billion, according to Bloomberg.
iPhone sales are expected to total 76.3 million units, but the key metric will be average selling price, or ASP, which presents a growing problem for the company as iPhone buyers show a preference for less expensive phones. Analysts are looking for an average selling price of $688, down slightly from $691 last year.
Elsewhere in earnings on Tuesday, we’ll get reports from Under Armour (UA), ExxonMobil (XOM), MasterCard (MA), Pfizer (PFE) and UPS (UPS).
The economic calendar will also be busy on Tuesday, with the fourth-quarter employment cost index, the November reading on home prices from S&P/Case-Shiller, and The Conference Board’s latest consumer confidence reading all out in the morning.
Markets will also look to bounce back after posting their worst day of the year on Monday, with the Dow falling 122 points, or 0.6%; the S&P 500 losing 14 points, or 0.6%; and the Nasdaq dropping 47 points, or 0.8%.
Myles Udland.
Full story at Yahoo News.
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