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This stock may outperform Apple itself if the iPhone maker’s earnings beat the Street

Customers compare Apple iPhone 7 and iPhone 7 Plus smartphones.
Sergei Fadeichev | TASS | Getty Images

The best trade off of Apple's earnings may not be Apple at all, as history shows one stock may see bigger gains than Apple itself if the iPhone maker's results top Wall Street's expectations.

Apple earned $1.66 a share last quarter, according to the Wall Street consensus estimate. But traders and other investors are betting Apple tops those expectations by 5 cents when it releases results Tuesday, according to Estimize, a crowdsourced earnings platform.

Using hedge fund analytics tool Kensho, CNBC PRO searched the technology industry to find the stock most-correlated to Apple.