Apple Chart Suggests Investors Aren't 'Buying The Fear': iPhone, AI Expectations In Focus For Q2
Portfolio Pulse from Surbhi Jain
Apple Inc (AAPL) is set to report Q2 earnings with Wall Street expecting $1.40 EPS and $84.12 billion in revenue, a decrease from last year. Despite a year-to-date decline of 11.53% due to a weak iPhone 15 cycle, analysts suggest optimism for the iPhone 16 cycle and are keen on updates about iPhone sales, services revenue, and AI advancements. Technical indicators show a bearish trend for AAPL stock, but analysts see a 20% upside, with upcoming product launches potentially serving as catalysts.
May 01, 2024 | 1:03 pm
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Apple Inc's upcoming Q2 earnings report and expectations for the iPhone 16 cycle and AI advancements could influence its stock price. Despite a bearish technical trend, analysts predict a 20% upside.
Apple's stock is currently facing a bearish trend according to technical indicators, but the strong analyst consensus pointing to a significant upside based on expectations for the iPhone 16 cycle and AI advancements suggests potential for short-term price recovery. Upcoming product launches and the Q2 earnings report could serve as positive catalysts, despite the current market skepticism.
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IMPORTANCE 90
RELEVANCE 100