Expectations for Apple have fallen low enough that the tech giant could easily surprise Wall Street when it posts quarterly results later this month, one company watcher said Tuesday.
"The bar has been lowered for this quarter, and we think that's a great setup for Apple to beat expectations," said Channing Smith, managing director of equity strategies at Capital Advisors. "If they don't, the expectations are already low, so we see limited downside."
Apple shares have fallen more than 11 percent in the last three months. Concerns about a possible slowdown in growth market China and tough comparisons to blowout iPhone sales last year have partially fueled the selling.