Hedge Fund Manager Previews Apple's Earnings, Expects Lowered Guidance

Speaking to Benzinga, Able Capital Management Chief Investment Officer Joshua Van Dress said that he expects Apple Inc AAPL to take a hit against its earnings due to foreign currency fluctuations, similar to other firms expanding internationally.

Van Dress thought Apple would still beat expectations but “not by the usual 8 to 10 cents.” The beat would “be by very, very slim margins” and he expected the company to lower its guidance.

Apple reports Q1 earnings after the close on Tuesday and the Street expects revenue of $67.69 billion with EPS of $2.60.

Heading into the earnings release the stock was down 1.72 percent to $111.16.

Kevin Riley and Brianna Valleskey contributed to this report.