Apple (AAPL) Reverses, Heads Higher Into Tonight's Earnings

After trading lower earlier, Apple Inc. (Nasdaq: AAPL) is now positive into earnings results due after the close. Shares last traded at $246.41, still down sharply from their recent high of $279.01.

Many expect a "beat" from Apple, but how large it will be will dictate investors' reaction.

Analysts expect the company to report EPS of $3.11 on revenues of $14.75 billion. The Street wants to see a beat of $0.40-$0.50 cents above the consensus, or earnings in the $3.51-$3.61 range, to be considered robust enough to justify a higher share price.

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