Watching Apple shares ahead of Q4 earnings
Current market expectations are for Apple's Q4 revenue to fall 1% year-on-year to $89.31billion. On the other hand, earnings per share is expected to be at US$1.39, up 7.7% on the same quarter last year.
Analysts say Apple's hardware product sales may continue to struggle because of Apple's exposure to China, a market that accounts for one fifth of the group's revenue. A report from Counterpoint Research suggests that iPhone 15 sales for the first 17 days of sales in China has underperformed last year's iPhone 14. The Street therefore expects Apple's services segment to offset a possible fall in product sales. It sees services revenue continuing to accelerate to 11.4% year-on-year in Q3 2023, up from the previous quarter's 8.2%.
(AI Video Transcript)
Apple
Apple, the popular technology company, will soon announce their financial results for the fourth quarter of this year. Experts predict that Apple's earnings, the profit the company makes, will be $1.39 per share. This would be a 7.7% increase compared to last year. Additionally, the company's revenue, the total amount of money they make, is expected to go up by 1% to around $90 billion.
Apple's hardware sales
Investors are paying close attention to how well Apple's products and services are performing. Apple's hardware sales, like iPhones and computers, have been struggling because of their connection to the Chinese market. Sales of the new iPhone 15 in China are estimated to be 4.5% lower than those of the previous model, the iPhone 14. However, Apple's services segment, which includes things like the App Store and Apple Music, is predicted to make up for any decline in hardware sales. The revenue generated from services is expected to increase by 11.4% compared to the same period last year.
Yesterday, Apple's shares closed at a price of $174.82. It is anticipated that the company's stock will start trading higher on Wall Street today, influenced by recent events that took place towards the end of yesterday's trading session. Investors will be able to buy and sell Apple shares on the IT platform later today, after the release of the fourth-quarter financial results.
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