Apple is likely to beat Wall Street revenue estimates when it reports next week, thanks to strength in the indomitable Macintosh and iPhone 13 lineups, Morgan Stanley analyst Katy Huberty writes in a note to clients.
Chris Ciaccia for Seeking Alpha:
“We expect Apple to post upside to March quarter consensus revenue estimates on the back of iPhone 13 and Mac strength, which we believe more than offset relative weakness in iPad and the App Store in the quarter,” Huberty wrote in a note to clients.
Huberty cautioned that COVID-related lockdowns in major China manufacturing hubs, such as Shanghai, Kunshan, and Zhengzhou, could cause Apple (AAPL) to “take a more cautious stance when providing commentary on the June quarter given the unpredictable nature of potential future lockdowns.”
It’s likely that Apple would be directionally cautious with its commentary for the next quarter, taking into account lower factory production and recent iPhone SE order cuts, Huberty explained.
Huberty also said she expects Apple to announce an $80 billion buyback and a 7% increase to its dividend when it reports.
MacDailyNews Take: A 7% increase would add move Apple’s per share dividend from the current 22-cents up to 23.5-cents. We’d like to see an even $0.25 per share dividend.
We’ll know for esure after market close when Apple reports fiscal Q222 results on April 28th.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.
In god we trust that AAPL reaches $210 next week. 🙏
No way AAPL will approach that estimate anytime real soon. Tech is getting whacked, the market is whacked and the Fed is the whacker and has plans to whack more.
The bright spot in all of this, Apple and some other tech stocks are increasingly becoming/being seen as bond-like equities. Bonds are losers and no longer the low-risk-with-gain options. They’re now the return-free risk and stocks like AAPL supply the gains with a fairly low risk.
its amazing AAPL is finding a way to continue to grow. with a market cap of almost 3 trillion (2.71) and attractive P/E of 27.64 Apple knows on thing ever well, how to make insane amount of money. If Apple can continue to grow their profit at its current rate than 210 a share is a given.
Don’t count on Apple beating revenue. Based on what I’ve read on the internet, it seems Apple is going to miss in all areas due to short short supply and consumers constraining their buying impulses. I’m not complaining if Apple stock falls as long as they continue to buyback stock. I hope the scaredy-cat shareholders do dump their Apple shares out of fear or whatever the case may be. I’m always happy to see the outstanding share count reduced as it makes the shares I’ll continue to hold more valuable.
Apple’s share price is now at $161, so there is no chance of getting close to $210. Not even a chance of Apple reaching $175. This stock market is broken, so that’s that.