XLK - Apple's FQ$ results could include muted iPhone sales continuing iPad Mac strength - preview

October, 29 2020 01:56 PM SPDR Select Sector Fund - Technology

Apple ([[AAPL]] +4.4%) reports fiscal Q4 results after the bell today. Consensus estimates expect $63.33B (-1% Y/Y) and $0.70 EPS.Consensus revenue breakdown: iPhone, $27.73B; iPad, $6.14B; Mac, $7.93B;Wearables, Home and Accessories, $7.23B; Services, $14.12B.Analysts expect gross margin of 38.1%.IPhone sales could be muted or miss estimates as customers awaited the delayed launch of the iPhone 12 models. IPad and Mac will likely continue to benefit from the pandemic's work and learn from home tailwinds.Analyst comments: DA Davidson's Tom Forte expects investors/analysts to focus on any insight into iPhone 12 demand. Loop Capital reduced their iPhone forecast for Q4 but increased it for Q1 and raised Q4 estimates for the iPad/Mac.Suppliers that could move (including the percentage of revenue derived from Apple, via Bloomberg data): Cirrus Logic ([[CRUS]] +3.4%), 83%; Skyworks ([[SWKS]] +3.7%), 51%; Qorvo ([[QRVO]] +3.2%), 33%; InterDigital ([[IDCC]] +0.7%), 27%; Lumentum ([[LITE]] +4.3%), 26%; Jabil ([[JBL]] +3.7%), 22%; Knowles ([[KN]] +1.7%), 22%; Qualcomm ([[QCOM]]

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Apple's FQ$ results could include muted iPhone sales, continuing iPad, Mac strength - preview

Company Name:	SPDR Select Sector Fund - Technology
Stock Symbol:	XLK
Market:	NYSE

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