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When Apple Inc. (Nasdaq: AAPL) reports its June quarter earnings after the market close Tuesday (tomorrow), the tech giant faces some steep expectations.
After all, one of the big reasons Apple stock is up more than 17% on the year – and an impressive 32% since hitting a 2014 low of $71.40 on Jan. 30 – is the surprising Apple earnings beat in the March quarter.
AAPL stock was hovering just above $94 in mid-day trading today (Monday).
The AAPL earnings beat last time around was driven primarily by unexpectedly strong iPhone sales – which Wall Street loves because Apple derives more than half its revenue and profits from the iPhone.