Apple Earnings Preview: Can Consumer Demand Save the Day?

Apple is set to report its fiscal third-quarter earnings on July 30, and analysts expect earnings per share of $1.88 on sales of $108.8 billion.

The company's consumer tie, which is nearly unmatched in the tech sector, may be a reason to buy the stock ahead of earnings, according to CEO Tim Cook.

Last month, Cook said Apple is planning price hikes on some devices to offset soaring semiconductor costs for memory, which arrived as consumers were already dialing back on other fronts.

If Apple confirms that consumer demand remains strong despite higher prices, it could be a near-term catalyst for the shares, particularly if iPhone and wearables metrics are positive.