Apple Delivers Q4 Beat, But Key iPhone Revenue Comes In Shy Of Estimates
Portfolio Pulse from Shanthi Rexaline
Apple Inc. reported Q4 results that exceeded estimates, with better-than-expected Services and iPad revenue. However, iPhone revenue was slightly below estimates. The company's year-over-year revenue decline continued for the fourth straight quarter. Apple returned over $25 billion to its shareholders and declared a cash dividend of 24 cents per share. The stock has gained 37.25% year-to-date, underperforming the 'Magnificent Seven', but outperforming the S&P 500 and the Nasdaq Composite indices.
November 02, 2023 | 8:53 pm
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Apple's Q4 results exceeded estimates, but iPhone revenue was slightly below expectations. The company's year-over-year revenue decline continued for the fourth straight quarter. Despite this, the stock has gained 37.25% year-to-date.
While Apple's Q4 results exceeded estimates, the continued year-over-year revenue decline and slightly lower than expected iPhone revenue may cause some concern among investors. However, the stock's strong performance year-to-date suggests that the market is still bullish on Apple.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100