Apple has been battered all year by bad headlines, but the stock keeps going up ahead of Q2 earnings

That's the message Apple tried to send with its March event, which was studded with celebrities and lofty language about the power of creativity, but did not include a new hardware product nor pricing or release dates for most of what it talked about.

Forte called the event "strange" but said that it helped investors start to "think about life after iPhone." "In our view, investors still don't fully appreciate the strength of Apple's platform with iOS users more engaged with mobile services and spending 10x Android users on mobile apps," Morgan Stanley analyst Katy Huberty wrote in an April note, pointing out that Apple has doubled the number of paid online services this year.

A year ago, Apple reported $9.19 billion in services revenue, which includes subscriptions, fees from its App Store distribution platform, AppleCare warranties, and money from an agreement with Google to make Google the default search engine on the iPhone's browser.Analysts and investors are also looking to see if Apple says how much it plans to spend on capital return. It's that time of year.

That tends to happen when you basically have Trillions of Cash on hand.

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