Apple is likely to beat Wall Street estimates for the 2021 holiday quarter (fiscal Q122), but this is “relatively priced in by the market,” Morgan Stanley writes in a note to investors.
Chris Ciaccia for Seeking Alpha:
Analyst Katy Huberty, who has an overweight rating and a $200 price target, said that revenue stability, upcoming product launches and expanding into new markets, such as the oft-rumored AR/VR headset “makes [Apple] more defensive in a rising rate environment.”
Huberty notes that Apple shares are up 19% since the October 4 low, compared to a 5% gain for the S&P 500, but have underperformed the index year-to-date – down 9% versus down 6% – noting a “strong December month performance.”
Concerning the quarter, Huberty said she expects Apple to report revenue figures that are 3% ahead of what Wall Street is expecting, citing stronger iPhone production and fewer manufacturing hiccups, thanks in part strong growth from China in the quarter.
MacDailyNews Take: Apple reports Q122 results on January 27th. Analysts’ consensus expects the company to earn $1.88 a share on all-time quarterly revenue of $118.2 billion.
We’ll have Apple’s results for you as soon as they are released, just check our homepage right around 1:30 p.m. PT / 4:30 p.m. ET on January 27th. We will follow that with live notes from Apple’s’ conference call starting at 2:00 p.m. PT / 5:00 p.m. ET that day.
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