Apple iPhone sales, cash return plan focus of Q2 report
W ith Apple (AAPL) likely to remain quiet about its Apple Watch rollout, Wall Street’s attention is shifting to the company’s fiscal second-quarter earnings, due out after the close next Monday, April 27. Wells Fargo Securities analyst Maynard Um on Monday reiterated his market perform rating on Apple stock, saying that the company will face gross profit margin pressures and limited growth opportunities in its existing product categories. Pacific Crest Securities analyst Andy Hargreaves on Sunday reiterated his sector weight rating on Apple, arguing that the stock is fully valued at current levels. For the March quarter, analysts polled by Thomson Reuters expect Apple to earn $2.14 a share, up 29% year over year, on sales of $55.76 billion, up 22%. It would mark the fifth straight quarter of double-digit earnings growth and the third straight quarter of double-digit sales growth. For the June quarter, Wall Street…