Apple stock is down roughly 9% from its early January highs ahead of its first quarter fiscal 2022 financial release on Thursday, January 27th, but shares are a ‘Strong Buy’ ahead of earnings.
Apple’s fiscal 2021 sales soared 33% to crush FY20’s 6%. Last year’s top-line expansion marked its best growth since 2012, topping FY15’s 28%. Looking ahead, Zacks estimates call for another 5% sales growth in FY22 and 7% higher sales in FY23 to reach $410 billion vs. $366 billion in FY21.
Meanwhile, Apple’s adjusted EPS are set to pop 4% in 2022 (after surging 71% last year) and then jump 7.4% higher in FY23. And AAPL’s recent earnings revisions positivity helps it land a Zacks Rank #1 (Strong Buy) right now.
Some investors might think it’s too easy to buy Apple, or fear they missed out already. But don’t avoid a money-making machine and the tech powerhouse that continues to grow simply because it appears too straightforward.
Wall Street remains extremely high on Apple, with 18 of the 22 brokerage recommendations Zacks has coming in at “Strong Buys,” with three more “Buys,” and none below a “Hold.” Now might be a solid time to add Apple as a portfolio pillar for the long-haul and a near-term safety-style play, even if some decide to wait for more of the dust to settle.
MacDailyNews Take: AAPL at a nice discount? Back up the truck.
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 on the 27th.
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I suspect earnings will be a solid beat. But I wouldn’t bet on a stock price jump the day after the earning report especially if these previous blood red market days are signaling we’re now in a bear.
This is an alert for short term/active trading only. Long term recommendation is a hold. If the market knocks Apple down to its 200 SMA around 148? Good opportunity IMHO to buy and hold long term.