Will Volatile Consumer Spoil Apple's Party? Q4 Earnings Preview
Portfolio Pulse from Shanthi Rexaline
Apple, Inc. (NASDAQ:AAPL) is set to release its Q4 results, with analysts expecting a revenue of $89.28 billion, marking a fourth straight quarter of year-over-year revenue drop. However, quarterly revenue is expected to climb 9.14% from the previous quarter. Morgan Stanley’s Erik Woodring expects Apple to report in line to better-than-expected results, thanks to iPhone revenue growth and accelerating Services revenue growth. However, he also warned of potential softness due to iPhone supply shortages and uneven consumer spending. Apple's stock has gained 34.5% for the year-to-date period.
November 02, 2023 | 1:54 pm
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Apple's Q4 results are expected to show a year-over-year revenue drop, but a quarter-over-quarter growth. The stock has gained 34.5% for the year-to-date period.
The news is directly about Apple's upcoming Q4 results. While the expected year-over-year revenue drop could negatively impact the stock, the quarter-over-quarter growth and the year-to-date gain of the stock could balance it out, leading to a neutral short-term impact.
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IMPORTANCE 80
RELEVANCE 100