Apple's Q1 Report On Radar Amid Cupertino's Struggles To Grow Revenue: Can iPhone, Vision Pro First Impressions Lift Sagging Stock?
Portfolio Pulse from Shanthi Rexaline
Apple, Inc. (AAPL) is set to release its Q1 earnings report, with investors keen on whether it can break a four-quarter revenue decline streak. Expectations are for a slight revenue increase to $117.91B from Q1'23's $117.2B, and a rise in non-GAAP EPS to $2.10 from $1.88. Analysts predict a healthy beat with potential revenue of $119 billion and EPS of $2.13. Key focuses include iPhone sales, expected at $68 billion, and the impact of new products like Vision Pro. Apple's stock has been consolidating, with a potential break below its 200-day moving average. Year-to-date, AAPL shares are down 4.22%, underperforming the Invesco QQQ Trust (QQQ), which is up about 1.8%.
February 01, 2024 | 10:53 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
The Invesco QQQ Trust, which has outperformed Apple with a 1.8% increase year-to-date, could see indirect impacts from Apple's earnings due to AAPL's significant weight in the ETF.
While the QQQ ETF's performance is not directly tied to a single company, Apple's significant weight within the ETF means that substantial movements in AAPL's stock price following its earnings report could indirectly influence QQQ's performance.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Apple's Q1 earnings report is highly anticipated, with expectations of breaking a revenue decline streak and a focus on iPhone sales and new product impacts. The stock has been consolidating, with potential for movement based on the earnings outcome.
Given the anticipation around Apple's ability to reverse its revenue decline and the focus on key product sales, the earnings report could significantly impact investor sentiment and stock price. The stock's recent consolidation and underperformance compared to QQQ highlight its sensitivity to earnings outcomes.
CONFIDENCE 85
IMPORTANCE 95
RELEVANCE 100