Apple Could Break $130 On June Quarter Results

has been trading below $130 ever since it started to decline on June 4. Apple expert

thinks that could finally change when the company reports its fiscal 2015 third quarter results on Tuesday, July 21. "It's gonna be a good report but Apple is always a good report," said Udall, who serves as the CIO of Quantum Trading Strategies and is the author of The TechStrat Report. "I'm trying to figure out if the stock has dropped enough. If they do have a report like they did last quarter, is that enough that the stock can finally break out? It's been locked under $130. I think, maybe, now it can." Tigress Financial Partners analyst Ivan Feinseth is always surprised when Apple is down. "It's shocking when it's down," Feinseth told Benzinga. "It should be up a lot more. It's an above average company in brand equity, quality, cash flow, earnings and returns in every way. Yet it sells below to the average multiple, premium to book [and] all the measures that you could measure Apple on. It trades at a discount to the mean of the S&P and of the Nasdaq composite -- of every index you could measure it against."

Udall expects Apple to sell 50.7 million iPhones, 11.6 million iPads, 4.9 million Macs and 3.5 million smartwatches. "Here's the thing that's gonna happen with iPads," said Udall. "Once they get old enough, [sales are gonna pick up] again. The iPad 1 is almost like an indestructible product. I don't think in anybody's wildest imagination they thought they would last five, six years." If iPad sales drop to 10 million units, Udall thinks that would be as "bad as it can go." Even then he expects iPad sales to rise in the near future as consumers rush out to purchase a newer, faster model -- or one to replace an older iPad that broke. Udall thinks Mac sales will be strong but said the product is seasonal. "I think that thin MacBook is gonna sell a lot better [over] the next two quarters," he said. "This is just a tough quarter to sell a lot of PCs. It's summertime -- late spring, early summer. Who's buying PCs, Mac PCs? If you have a broken product, you go and buy one." Disclosure: