Apple's Q4 Guidance: Gene Munster Says Wall Street Is 'Over-Reacting'
Portfolio Pulse from Benzinga Neuro
Tech investor Gene Munster criticized Wall Street's reaction to Apple's Q4 results, calling it an overreaction. He pointed out that Apple's business would have seen a 7% growth if the quarter had 14 weeks, an improvement from the 1% decline in the previous quarter. Despite surpassing predictions with its Q4 results, Apple's stock was down 0.91% in after-hours trading due to iPhone revenue falling slightly below estimates.
November 03, 2023 | 6:35 am
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Apple's stock was down 0.91% in after-hours trading despite surpassing Q4 predictions. This was due to iPhone revenue falling slightly below estimates.
Apple's stock price fell in after-hours trading due to iPhone revenue falling slightly below estimates, despite overall Q4 results surpassing predictions. This indicates that the market is reacting negatively to the lower-than-expected iPhone revenue.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100