As per attached ERN screenshot comparing Apple's

reported versus estimated adjusted earnings over the

previous $16$ quarters, what can you conclude about this

pattern?

a$)$ AAPL usually beats the consensus estimate, so a smart strategy is to buy AAPL before they report earnings.

b$)$ AAPL Usually misses the consensus estimate, so a smart strategy is to short AAPL before they report earnings.

c$)$ AAPL usually beats the consensus estimate, but this does not appear to be a good indicator of the stock price reaction.