In this video from Friday's Investor Beat, host Chris Hill and Motley Fool Million Dollar Portfolio analyst Ron Gross separate the signal from the noise in the biggest investing stories from the market today.

Apple (NASDAQ:AAPL) announces earnings on Monday and, in this segment, Ron discusses a number of things he'll be watching for from the company. Rumors came out this week of two new phones with larger screens set to be released later this year. The company is also rumored to be scrapping its iPhone 5c, which has had a weak reception with consumers. Ron says he'll also be watching to see what Apple's plans are for its cash hoard, as activist investor Carl Icahn continues to loudly call for large share buyback plans from the company. As far as the numbers are concerned, Ron says that, while the company used to be notorious for sandbagging its guidance, he now thinks that there will be no great surprises, and that it should come in right around expectations.

So how should investors profit from the smartphone war?
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Chris Hill has no position in any stocks mentioned. Ron Gross owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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