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.
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