July 23, 2013 6:40 PM
Apple just reported June quarter results, and as expected, sales were pretty flat ? up just 1% from last year to $35.3 billion. It's been a while since Apple has released any major new products, and it shows. A few highlights: Apple Inc is not expected to show a big post-earnings swing when it reports fiscal third-quarter results after the closing bell on Tuesday, but this could also mean investors are under-hedged in case the company delivers a shock. The options market is pricing in a potential move up or down of 4 to near 5 percent in Apple's stock price following the results. As Apple reports quarterly results after the close of business their gross profit margin has been falling since it hit 47% at the beginning of 2012. The company?s top-of-the-line iPhone 5 carries the highest profit margin, analysts say but worries about low supply levels make Apple shakey.