Goldman Sachs analyst Rod Hall reiterated his Neutral rating and $142 price target on Apple Inc. shares heading into earnings. The price target implies a downside of 12 percent.
Hall notes company's iPhone business should see positive results with upside risk to his December numbers.
However, retail sales data and Chinese CAICT data suggest slower momentum in the month of December.
Hall adds that while this may be linked to consumers purchasing earlier than usual in the quarter, it may also drive more cautious commentary from Apple looking into the March quarter.