Apple (AAPL) reports second quarter earnings tonight after the close.

Q2 Capital IQ consensus calls for EPS of $0.99 (versus $0.64 last year) on revenue of $77.3 bln (+32 yr/yr).

The Street is expecting Q2 iPhones revenue to be $41.0 bln vs. $28.9 bln last year, iPad revenues to be $5.7 bln vs. $4.4 bln last year, Mac revenues of $6.6 bln vs. $5.4 bln last year, wearable revenues of $7.6 bln vs. $6.3 bln last year, and service revenue of $15.7 bln vs. $13.4 bln last year.

The Street is expecting Q2 gross margins of 40% versus 38.4% last year.

TECHS:

Based on the weekly AAPL Weekly Apr30 $134 straddle, the options market is currently pricing in a move of ~4% in either direction by weekly expiration (Friday).

Suppliers to watch:

SWKS, CRUS, AVGO, QRVO, TSM, and QCOM, among others (SMH); SSNLF, LPL (for displays) and LITE, FNSR and IIVI (for FaceID).

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