Apple's Q3 Report Expected to Be Light on Good News

Apple shares closed at $105.08 Monday — down 60 cents — as the market steeled itself for what’s expected to be a gloomy quarterly earnings call on Tuesday. Apple will underperform the smartphone industry and become the only global top-five brand to see shipments decline in 2016, predicted Ming-Chi Kuo, a KGI Securities analyst who previously has made several accurate calls on the company. Global iPhone shipments will fall short of the estimates of 210 million to 230 million units this year, Kuo wrote in a note to investors, totaling 205 million in the best case.

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