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The stock market’s fortunes may ride on Apple’s shoulders

Apple’s earnings loom large as tech sector’s rally hits headwinds.

It’s all on you Apple.

Apple Inc., the most valuable company in the world by market capitalization, is set to report fiscal third-quarter earnings on Tuesday, setting the tone for the technology sector and, to a large degree, the broader stock market.

While not a pure tech play, Tesla Inc. TSLA, +0.18% another high performing stock with a loyal following, will also announce second-quarter results on Wednesday.

The two Silicon Valley stars are preparing to unveil earnings at a time when stocks are losing energy even as they continue to set new records, leading Colin Cieszynski, chief market strategist at CMC Markets, to suggest that the market is at a tipping point.

”This week could be the bulls’ last stand with Apple and Tesla wrapping up earnings season for big technology momentum plays,” said Cieszynski in his weekly outlook.

“Apple is going to dictate what tech does and how [the company] guides will determine where the sector goes given so many companies are tied into it,” said Ian Winer, head of the equities division at Wedbush Securities.

Aside from next quarter’s outlook, investors will also be looking for details on the upcoming launch of the...


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