Why No One Cares About Apple's Q4 Report

The world's "most valuable" company is set to report its yearly earnings report on Tuesday, and apparently no one cares. Piper Jaffray is expecting Apple Inc. AAPL's fourth-quarter earnings to be a largely neutral event for the stock.

Apple has several other big announcements set for this week, including the Nike Inc NKE/Apple partnership on the Apple Watch Nike+ and a rumored Mac announcement on Thursday.

Piper Jaffray said there are two distinct buy-side themes surrounding Apple:

1. The risk with Apple involves March 2017 and June 2017 quarters, where an iPhone 7 unit deceleration will become more evident.
2. A "slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15 percent," wrote Piper Jaffray analysts.

Related Link: The Wearable Tech Industry Will Be Worth More Than $71 Billion In 5 Years

Analyst are not expecting any insight on these two themes in Q4 and therefore maintains its Overweight and $151 price target.

"We expect in-line September results and believe the take away from the Sep-16 quarter and Dec-16 guide should be that iPhone 7 is off to a good start, but supply remains constrained," said Piper Jaffray.

At last check, Apple was up 0.7 percent at $117.42.

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