Goldman Sachs Says Apple Is Primed For Q3 Earnings Beat Fueled By 2 Business Lines
Portfolio Pulse from AJ Fabino
Goldman Sachs analysts predict Apple Inc (AAPL) will surpass the $1.19 consensus earnings per share (EPS) forecast with an EPS of $1.21 in its Q3 earnings report on Aug. 3, driven by strong performance in Mac and Services. The bank's Mac revenue forecast of $9.4 billion is significantly higher than FactSet's consensus of $6.3 billion. Services revenue is expected to reach $21.8 billion, an 11% YoY growth. Despite concerns around valuation and downside risks, Goldman Sachs maintains a positive outlook on Apple, citing the growing iPhone installed base as a key factor for increasing monetization per user.
July 25, 2023 | 6:09 pm
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Goldman Sachs expects Apple to beat Q3 earnings forecasts, driven by strong Mac and Services performance. Despite valuation concerns, the bank maintains a positive outlook on Apple.
Goldman Sachs' positive outlook and expectation of Apple beating Q3 earnings forecasts could potentially drive the stock price up in the short term. The bank's emphasis on the growing iPhone installed base as a key factor for increasing monetization per user also supports a positive outlook for the company.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100