Apple Inc. (AAPL): Bear or Bull as Earnings Report Looms?

As Apple Inc. (NASDAQ:AAPL) stock rose to an all-time high of $705 per share in mid-September, then plummeted nearly 30 percent in price in the four months since the announcement of the iPhone 5, there has been much debate about where Apple is going. As the company’s quarterly earnings report is due out after-market Wednesday, there is much debate and talk about whether Apple can reverse its negative momentum, or whether the report will continue to show a bearish attitude.

There are analysts like Kim Caughey Forrest, who has been bearish on Apple Inc. (NASDAQ:AAPL) all along, and even still doesn’t seem interested in buying the stock despite its usual solid performance. There are also analysts like Edward Painvin who have been bullish, but is now saying that Apple is near the bottom of a trading range, which means he is generally bullish, but only to a point. Whether this quarterly report will change the minds and outlook on either of these analysts remains to be seen, but this likely may be one of the more important reports for the company in a while – when one considers the overall uncertainty about the company and the stock.

In a survey of analysts, the general consensus is that Apple Inc. (NASDAQ:AAPL) should beat expectations, which is currently listed at an EPS of $13.48 per share and $55 billion in revenue. Overall, Wall Street expects the company to have sold 48 million iPhones in the last quarter, which would be 11 million more than a year ago. If the EPS comes in at this level predicted, Apple would be reporting a nearly 3-percent drop over a year earlier and that would  mark the first decline in nearly 10 years.

Painvin said that Apple Inc. (NASDAQ:AAPL) stock should be in a trading range of $480-$600 per share, and Apple did fall below $500 last week and was entering Wednesday at just shy of $505 per share.

After seeing these stores previewing the earnings report, what is your take on Apple Inc. (NASDAQ:AAPL)? Is the stock at the bottom, and do you think a good earnings report Wednesday will turn the stock around? Let us know your thoughts all day and continue the discussion after the report to give us your assessment.

DISCLOSURE: I own no positions in any stock mentioned.

Please see these related AAPL articles:

Apple Will Return to Indonesia?

5 Things to Listen For When Apple Announces Earnings

What the Options Market Thinks About Apple