Will Apple Earnings Be a Hit, or Miss the Mark?

The stock is up over 31 percent over the past 52 weeks, but has come down 18 percent over the last three months and is trading below its 200-day moving average.

The bank added: “Although we view Japanese device and component makers as having performed in line with guidance in 4Q 2012, we see a strong likelihood of major shortfalls from guidance, except for iPad Mini, in 1Q 2013, and are concerned about adverse effects on capacity utilization, sales, and profits.”