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Day Ahead: Top 3 Things to Watch

Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow.

Apple, Apple, Apple

The big event on Tuesday comes after the market when Apple (NASDAQ:AAPL) reports earnings for its fiscal first quarter.The Dow component and one of the biggest influencers on the Nasdaq 100 is expected to report earnings of $4.17 a share, up from $3.89 a year ago. But revenue and what it means for the future will be more important.

Apple warned after the Jan. 2 market close revenue would come in at about $84 billion, down from its own projection of $89 billion to $93 billion but 8.8% from a year ago. Just about all of the short-fall will come from China and, more specifically, disappointing sales of iPhones.

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The announcement stunned investors and sent the Dow Jones industrials down 660 points the next day, although Apple's shares are now about flat on the year.

China has emerged as a huge challenge because of the Sino-U.S. trade wars that have slowed growth on the mainland and the competition with lower-priced smart phones from Huawei, Samsung (KS:005930) and others.

The report and CEO Tim Cook's presentation will also generate a lot of questions about iPhones sales outside China as well. Some reports have said U.S. sales are "static."

Hog Wild

Harley-Davidson (NYSE:HOG) reports before the open. The venerable motorcycle may report 28 cents a share in earnings, down from 45 cents a year. Revenue is seen falling 14.6% to $1.06 billion. Harley has been struggling in recent years in attracting younger buyers for its high-end pricey bikes. The stock has recovered from a nasty slid between October and Dec. 24.

Earnings Parade

Pfizer (NYSE:PFE), before the open. The estimate for the pharma giant and Dow component is 64 cents a share, up slightly from a year ago. Sales of $13.96 billion would also be up slightly. Shares are off some 8% this month.

Defense contractor Lockheed Martin (NYSE:LMT) may report $4.40 a share for the fourth-quarter, up from $4.07 a year ago, a beneficiary of the Trump Administration's interesting in boosting defense spending. Shares are up around 15% this year. Shares are up more than 13% after a fourth-quarter swoon.

The estimate for telecom giant Verizon Communications (NYSE:VZ) is $1.09 a share for the fourth quarter, up from 88 cents a year ago, with revenue expected to rise 3.5% to $34.5 billion. Verizon has been doing some cutting of late, especially after writing down its investment in former Yahoo (NASDAQ:AABA) assets by some $4.6 billion. Verizon shares are down about 2% this month.

In economic news, look for the Conference Board's January report on Consumer Confidence, due at 10 AM ET (15:00 GMT). It may shed some light on how consumers look at the partial shutdown of the federal government and recent market turmoil.

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