All eyes on Apple earnings today. Here’s what Wall Street expects.
Apple is anticipated to demonstrate revenue growth over the previous year in its upcoming earnings report, yet the primary concern for investors remains the demand for iPhones. The company will announce its fiscal first-quarter results after the market closes on Thursday.
According to FactSet’s analyst estimates, Apple is expected to achieve an earnings per share (EPS) of $2.35 with revenue reaching $124.3 billion. Comparatively, in the corresponding quarter of the last year, Apple reported an EPS of $2.18 and revenue of $119.6 billion.
Angela Palumbo for Barron’s:
iPhone sales make up a majority of Apple’s revenue, making it a key metric for investors. Analysts expect first-quarter iPhone sales of $70.7 billion, a 1.4% increase from the same period last year.
There are numerous analysts that remain optimistic about Apple’s future. The “panic and bear frenzy around Apple is way overdone,” Wedbush’s Dan Ives wrote in a recent note.
“With 300 million iPhones not upgraded in four years the company is in the very early stages of capitalizing on a massive multi-year upgrade cycle,” Ives said.
MacDailyNews Note: Apple is scheduled to announce its fiscal first-quarter (holiday 2024) results after the market closes on Thursday. As always, we’ll have the results for you on our home page as soon as they are released, right around 1:30pm PT / 4:30pm ET on Thursday, January 30th.
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