Why No One Cares About Apple's Q4 Report

Apple has several other big announcements set for this week, including the Nike Inc NKE/Apple partnership on the Apple Watch Nike+ and a rumored Mac announcement on Thursday.

Piper Jaffray said there are two distinct buy-side themes surrounding Apple:

• The risk with Apple involves March 2017 and June 2017 quarters, where an iPhone 7 unit deceleration will become more evident.
• A "slightly larger group of investors believe the tail of the iPhone 7 is irrelevant, and is betting that the iPhone 10th Anniversary will yield a jump in growth from flat to up ~15 percent," wrote Piper Jaffray analysts.

Related Link: The Wearable Tech Industry Will Be Worth More Than $71 Billion In 5 Years

Analyst are not expecting any insight on these two themes in Q4 and therefore maintains its Overweight and $151 price target.

"We expect in-line September results and believe the take away from the Sep-16 quarter and Dec-16 guide should be that iPhone 7 is off to a good start, but supply remains constrained," said Piper Jaffray.

At last check, Apple was up 0.7 percent at $117.42.

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