Will Apple Lay The Case For Easing Into AI Superhighway? Analysts Expect iPhone Maker's Q3 Results To Signal Inflection In Topline Growth
Portfolio Pulse from Shanthi Rexaline
Apple is set to announce its Q3 2024 results, with analysts expecting a potential inflection in topline growth. Despite a recent soft patch, the company is anticipated to report year-over-year growth in revenue and EPS. Analysts are bullish on Apple's long-term prospects, with price targets raised by Wedbush and Morgan Stanley. Apple's stock has risen over 15.50% year-to-date, comparable to major ETFs like SPY and QQQ.
August 01, 2024 | 1:05 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Apple's stock performance, which has risen over 15.50% year-to-date, is comparable to the Invesco QQQ Trust's (QQQ) 15.37% advance.
Apple's performance is comparable to QQQ, but the direct impact on QQQ is neutral as it is a tech-focused ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Apple's stock performance, which has risen over 15.50% year-to-date, is comparable to the SPDR S&P 500 ETF Trust's (SPY) 16.62% gain.
Apple's performance is comparable to SPY, but the direct impact on SPY is neutral as it is a broad market ETF.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Apple is expected to report year-over-year growth in revenue and EPS for Q3 2024. Analysts are bullish on the company's long-term prospects, with price targets raised by Wedbush and Morgan Stanley. The stock has risen over 15.50% year-to-date.
The anticipation of year-over-year growth in revenue and EPS, along with bullish analyst ratings and raised price targets, is likely to positively impact Apple's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100