Category: Companies / April 22, 2013 5:33 PM EDT
On Tuesday, investors will be eyeing tech giant Apple Inc. (NASDAQ:AAPL) as it’s scheduled to release results after the closing bell. Although Apple Inc. (AAPL) could make history tomorrow with its biggest second-quarter sales yet, analysts forecast that the company will report a decline in net profits for the first time in 10 years. The revenue both Apple and analysts are expecting would be a new second-quarter record.
Investors will be keeping a close eye on the earnings report to gauge demand for the company’s iconic smartphone as Samsung and other rivals try to grab the market share.
iPhone rumors constantly swirl for every new launch, but this year much of the speculation has focused on whether demand for the iPhone is fading as an increasing number of consumers choose alternatives, including phones from Samsung and those produced by other adopters of Google's Android software.
Also on Tuesday, luxury goods company Coach, Inc. (NYSE: COH) and Xerox Corp. (NYSE:XRX) report before the market opens, while AT&T Inc. (NYSE:T), and Yum! Brands, Inc. (NYSE: YUM) report after the bell.
Analysts are expecting AT&T to report earnings of 64 cents per share, up 6.7 percent from a year ago when it reported earnings of 60 cents per share, according to Zachs Investment Research.