The fundamentals look good. I will give it 8 out of 10. This is an unfair score. I am being stringent given its strong run since April. Also, it has beaten earnings and revenue the last four quarters but rose in two. So beating earnings and revenue is not enough. I guess it will come down to guidance and number of iPhones and iPads sold.
On the technical side, it is in favor of the upside. It wants to continue higher to retest the all-time high at 100.72 (currently at 93.94). I believe it will get there before any significant disruption to its current move can take place.
So, based on the technicals and fundamentals, I believe it will go to 100. Even if it disappoints on earnings tomorrow, I don't see any big drop happening. It will be one of those days that is starts with a gap down on Wednesday but close up for the day and then continue higher to 100. That level is a magnet. It is a strong psychological level. Short-sellers will not come in till it gets there because they believe it will. I don't think they will want to risk shorting before that level. On the other hand, short-term/swing traders will jump in trying to catch the ride to 100. So the move to 100 should be an easy one given market psychology. A good report will just help it get there sooner.
A down day tomorrow will serve as good confirmation that it will move up after it reports.
My plan is to buy and hold October Call options till be gets to 100-101, hoping it gets there on Wednesday or by the end of the week.
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