Apple stock ( NASDAQ:AAPL ) has recently suffered due to the weakening macroeconomic outlook and a random drop in smartphone production figures. Investors are now cautiously awaiting Apple’s Q4 earnings for additional information, not just for Apple, but for the overall economy.
I believe Apple’s fourth-quarter numbers will be better than expected – or feared. Investors should remember that LVMH ( OTCPK:LVMUY ) has announced robust consumer demand in the United States, Japan, and, most unexpectedly, Europe. Furthermore, digital search statistics do not indicate declining interest in Apple stock. Bloomberg reports that the manufacturing slowdown will have little to no impact on Apple’s Q1 and Q2 2023 results. I give a ”Buy” rating for Apple stock .
Earnings Forecast
According to the Bloomberg Terminal, 29 analysts have given their projections for Apple’s fourth-quarter results as of October 12. Total sales are predicted to range between $85.14 billion to $92.80 billion, with an $88.85 billion average projection. As a result, the dispersion is relatively broad. If the average is used as the anchor, Apple’s Q4 sales are expected to increase by 6.6% compared to the same quarter in 2021. EPS forecasts range from $1.13 to $1.35. The average is $1.27, implying a 2.3% increase year over year.
Notably, quarterly profit estimates (EPS revisions) have flattened in recent months, with little downward/upward revision since December 2021.
Apple will release its fourth-quarter earnings report on October 27, after the market closes.
Reduced iPhone Sales?
Despite ...
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