Although recently it has been selling off quite a bit, $Apple(AAPL)$ price is only down much lesser than S&P and NASDAQ. Wall Street consensus right now is expecting an earning per share (EPS) of $1.27 compared to $1.24 same time last year, which is a 2.5% growth on a YoY basis. Revenue is expected a little bit under 89 billion dollars, and that is going to compare to 83.36 billion dollars at the same time last year, a 6.6% growth on a YoY basis.

Some of the things I am looking forward to in Apple is the iPhone 14 demand. We will not be going to get an estimate of how many iPhone 14 are planning or expected to sell. But any type of hint, any type of color around iPhone demand is going to be very helpful because there have been a couple of reports suggesting that Apple is actually cutting production on their iPhone 14 because the demand is not as high as what the company has expected. We are going into a recession, discretionary spending is going to come down and how that is going to affect the demand is something that is really important for us to understand for Apple revenue.

And lastly, the services growth kind of moving away from hardware to software will be a big growth driver for the company. A big portion of their revenue is still hardware, less than 20% of services, but is there a plan to get the number up to 25% or even more? That is a high-margin business and if services can eventually be more than 30% of their overall revenue, Apple will be treading at a much high multiple and growth will accelerate. Apple's valuation will literally double if services can make up a bigger piece of its overall revenue. If we get some strong beat on earnings, revenue, and guidance, Apple's share price will likely be back to $160.

Another of my favorite stock, $Amazon.com(AMZN)$ the big E-commence giant, is expecting an earning of 22 cents EPS, versus 31 cents the same time last year, this is expected to come down 29% because Amazon is one of those companies that deal with a lot of macro headwinds. It is not about foreign exchange or higher interest rates or lowers spending, it is also about supply chain and logistical issues. The price of oil actually ends up affecting Amazon, Amazon is pretty much getting hit in all different areas.

In the FAANG, Amazon has actually the most quarterly revenue, revenue is still expected to grow 15%, 127 billion dollars in a quarter. Most companies can't even earn that much in an entire year, which really amazes me. To me, Amazon is a monster when it comes to revenue, they have 2 Amazon Prime days sales events this year, and there is also Christmas in front of us, so any type of guidance on this will be very important.

Things to pay attention to will be online versus physical, as we have seen the reopening of the economy. People are moving toward in-store and physical, will online sales really deteriorate so much? Because during the pandemic, online took off and physical went down; after the pandemic, online slowed down and physical went up.

Amazon's advertising growth is one of the key reasons I am betting on Amazon because it is a great avenue for businesses and companies to advertise on the Amazon platform. AWS is also a leader in the cloud service provider, we need to see what type of growth are we seeing there. Is there any type of cost-cutting of headcount and cost management? We have to look into the supply chain and logistic issues, are they easing, or are they getting worse, any visibility on that will be very helpful. If we have good news on the guidance, we can see the share price reaching the $140 range.