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APPLE earnings expectations:
Analysts are estimating earnings of $1.39 per share on revenue of $89.28 billion, according to LSEG, formerly known as Refinitiv. According to StreetAccount, Apple has beaten consensus earnings in 17 of the last 20 quarters.
The tech giant’s quarterly results come on the heels of several product launches. Apple released its long-awaited iPhone 15 product line with USB-C charging in September, as well as a new Apple Watch and updated AirPods. On Monday night, it held an unusual night-time launch event to announce its new PC chips, Macbook Pro laptops and iMac model. The company has also been quietly ramping up spending in artificial intelligence.
The September quarter results will only encompass approximately a week of the iPhone 15 sales. Analysts will be keeping a close eye on the company’s current December-quarter guidance for insight on iPhone 15 sales. The December quarter is also historically Apple’s biggest period of the year by revenue.
However, concerns over a weakening consumer, foreign exchange fluctuations, supply issues and decreasing market share in China are weighing over sentiment. Shares have pulled back about 11% from their year-to-date intraday high reached in July. Nonetheless, the stock is 36.5% higher in 2023.
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