Monday November 6, 2023 $179.23 +$2.58 (+1.46%)
Nov 6, 2023 4:39:17 GMT -8
Luckychoices, artman1033, and 6 more like this
Post by CdnPhoto on Nov 6, 2023 4:39:17 GMT -8
Good morning all,
AAPL is currently down just a bit. $176.40 -0.25 (-0.14%)
RSI is 54.55
Friday was looking really bad at first, with the initial after hrs on Thursday being down $6 at the close. We ended up down just $0.92. Let's see if that means WS thinks there is still upside in AAPL.
Q3 2024 EPS Estimates for Apple Inc. Raised by KeyCorp (NASDAQ:AAPL)
Analyst Analysis: Q4 2023 was OK, Q1 2024 could be surprisingly good
AAPL is currently down just a bit. $176.40 -0.25 (-0.14%)
RSI is 54.55
Friday was looking really bad at first, with the initial after hrs on Thursday being down $6 at the close. We ended up down just $0.92. Let's see if that means WS thinks there is still upside in AAPL.
Q3 2024 EPS Estimates for Apple Inc. Raised by KeyCorp (NASDAQ:AAPL)
Research analysts at KeyCorp lifted their Q3 2024 earnings per share (EPS) estimates for Apple in a research report issued on Friday, November 3rd. KeyCorp analyst B. Nispel now forecasts that the iPhone maker will earn $1.35 per share for the quarter, up from their previous forecast of $1.29. KeyCorp currently has a “Sector Weight” rating on the stock. The consensus estimate for Apple’s current full-year earnings is $6.05 per share. KeyCorp also issued estimates for Apple’s Q4 2024 earnings at $1.71 EPS.
Analyst Analysis: Q4 2023 was OK, Q1 2024 could be surprisingly good
Analysts have weighed in on Apple's Q4 2023 financial results, with most taking the view that the quarter is decent-performing, but with caution about a shorter Q1 2024.
Writing for Deepwater Asset Management, Gene Munster and Brian Baker believe Apple's outlook towards the December quarter was "better than it first appeared." If the quarter was 14 weeks long instead of the 13 it will be, it is thought that Apple would see 7% year-on-year growth for revenue instead of the forecast 1% gain.
In Thursday's note seen by AppleInsider, Apple's December quarter results guide is deemed "soft" relative to Street Expectations.
Both Mac and iPad had "strong comps" in the last year, and Apple "struggled to deliver growth off that base." The analysts were also "somewhat surprised to hear about wearables not doing as well either."
In JPM's Thursday note, the quarter has Apple proving "the resilience of the portfolio across hardware products and services alike, such that it managed to eke out growth on a constant currency basis in F4Q23."
In Wedbush's Thursday evening note, Apple offered "mixed results" with its December 2024 guide being "soft relative to street expectations" and with "flattish Y/Y" expectations.
"Apple sees its year-over-year revenue growth in December similar relative to the growth in the December 2022 quarter," the firm offers. "In addition, foreign exchange issues are expected to continue and have a negative Y/Y impact of 100 basis points."
The results were "in line with consensus," TD Cowen offers, with record sell-in to emerging markets such as India. The overall results were "slightly ahead," though investors are told to focus on the December quarter's flat revenue guidance instead.
Lower iPhone unit sales are being offset by "EM demand and higher ASP mix," with broad Services momentum "a positive amid iPad & Mac headwinds." The Services boost is seemingly "tied to hardware sales and subscriptions interest," with a note that Apple's recent subscription price increases possibly helping the revenue level.
The Q4 results were "muted" to Rosenblatt in its Friday note. While Apple worked hard to "move its massive battleship," it only advanced a "little" to the analysts. "We believe this muted pace persists for a while."
iPhone sales were "better than our projection for flat," though Mac and iPad proved to be "worse than estimates.
Writing for Deepwater Asset Management, Gene Munster and Brian Baker believe Apple's outlook towards the December quarter was "better than it first appeared." If the quarter was 14 weeks long instead of the 13 it will be, it is thought that Apple would see 7% year-on-year growth for revenue instead of the forecast 1% gain.
In Thursday's note seen by AppleInsider, Apple's December quarter results guide is deemed "soft" relative to Street Expectations.
Both Mac and iPad had "strong comps" in the last year, and Apple "struggled to deliver growth off that base." The analysts were also "somewhat surprised to hear about wearables not doing as well either."
In JPM's Thursday note, the quarter has Apple proving "the resilience of the portfolio across hardware products and services alike, such that it managed to eke out growth on a constant currency basis in F4Q23."
In Wedbush's Thursday evening note, Apple offered "mixed results" with its December 2024 guide being "soft relative to street expectations" and with "flattish Y/Y" expectations.
"Apple sees its year-over-year revenue growth in December similar relative to the growth in the December 2022 quarter," the firm offers. "In addition, foreign exchange issues are expected to continue and have a negative Y/Y impact of 100 basis points."
The results were "in line with consensus," TD Cowen offers, with record sell-in to emerging markets such as India. The overall results were "slightly ahead," though investors are told to focus on the December quarter's flat revenue guidance instead.
Lower iPhone unit sales are being offset by "EM demand and higher ASP mix," with broad Services momentum "a positive amid iPad & Mac headwinds." The Services boost is seemingly "tied to hardware sales and subscriptions interest," with a note that Apple's recent subscription price increases possibly helping the revenue level.
The Q4 results were "muted" to Rosenblatt in its Friday note. While Apple worked hard to "move its massive battleship," it only advanced a "little" to the analysts. "We believe this muted pace persists for a while."
iPhone sales were "better than our projection for flat," though Mac and iPad proved to be "worse than estimates.