Bet on Strong Apple Earnings: Nathan
Online Producer
Apple's historical holiday performance suggests investors will see growth in its quarterly earnings report next week, Dan Nathan of RiskReversal.com said Wednesday.
"They doubled their earnings from 2011 to 2012," he said. "So, here, all of a sudden now, earnings expectations are supposed to be down 3 percent. They have not had a down year in the fiscal Q1 since 2003. Expectations got dire – or dour, or however you want to say it – they got bad."
On CNBC's "Fast Money," Nathan also noted that the company, with $200 billion in annual revenue, was subject to outsized expectations.
"I woke up this morning, hoping the stock traded at $465 because I wanted to buy it," he added.
Karen Finerman of Metropolitan Capital Advisors also still liked Apple, adding that she expected growth in gross margin dollars — not gross margin percentage.
"I'm long," she said. "I still think that there's growth there."
