Apple stock climbs ahead of earnings report

Despite facing numerous concerns ahead of its December-quarter earnings release on February 2nd, Apple stock has been rising.

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Patrick Seitz for Barron’s:

The Cupertino, Calif.-based company plans to post its fiscal first-quarter results late Thursday. Analysts polled by FactSet expect Apple to earn $1.94 a share on sales of $121.8 billion in the December quarter. That would translate to year-over-year declines of 8% in earnings and 2% in sales…

Apple suffered supply constraints from Covid-related production slowdowns at its main iPhone factory in China last quarter.

Wall Street is bracing for cautious commentary from Apple executives about the March quarter, UBS analyst David Vogt said in his note to clients. Vogt rates Apple stock as buy with a 12-month price target of 180.

For the March quarter, analysts are predicting Apple earnings of $1.49 a share, down 2%, on sales of $97.5 billion, up a fraction.

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