Apple is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for its fiscal fourth quarter ended September 2022 on Thursday, October 27th.
While the sustainability of the immediate price change and future earnings expectations will mostly depend on management’s discussion of business conditions on the earnings call, it’s worth handicapping the probability of a positive EPS surprise.
[Apple] is expected to post quarterly earnings of $1.26 per share in its upcoming report, which represents a year-over-year change of +1.6%. Revenues are expected to be $88.43 billion, up 6.1% from the year-ago quarter…
For Apple, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company’s earnings prospects. This has resulted in an Earnings ESP of +0.79%. On the other hand, the stock currently carries a Zacks Rank of #3 [Hold].
So, this combination indicates that Apple will most likely beat the consensus EPS estimate.
MacDailyNews Take: As usual, an earnings beat will be nice, but what will move the stock will be any comments on Apple’s future outlook, economic headwinds, etc. made by CEO Tim Cook and CFO Luca Maestri during the conference call on Thursday, October 27, 2022 at 2:00 p.m. PT / 5:00 p.m. ET.
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I tried every day for a week to get an upgrade, so if sales are lower, its because supply is short.