Is AAPL stock a buy before Apple’s May 4th earnings report?

Many investors might be wondering if AAPL stock is a buy right now ahead of Apple’s Q223 earnings report on May 4th.

Patrick Seitz for Investor’s Business Daily:

With the iPhone business maturing, investors are wondering what the next big growth driver will be for Apple stock.

Recently, two businesses have given Apple’s sales and profits a boost: services and wearables.

In the December quarter, Apple’s services revenue rose 6% year over year to $20.77 billion. Meanwhile, its hardware sales declined 8% to $96.39 billion. Services include the App Store, AppleCare, iCloud, Apple Pay, Apple Music, Apple TV+, Apple Arcade and other offerings.

In late October, Apple raised prices for the first time on its Apple Music and Apple TV+ services. It also hiked the price for its Apple One services bundle.

In late March, Barclays analyst Tim Long said Apple’s advertising business is “underappreciated” by investors…

Year to date, Apple stock has climbed 26.7% through April 6. But it has not established a clear buy point during its ascent. It ended the regular session April 6 at 164.66.

In a positive sign, Apple stock has been trading above its 50-day moving average line, as well as its 200-day line. Also, its relative strength line has been rising lately as it outperforms the S&P 500 this year.

Apple stock has an IBD Accumulation/Distribution Rating of A-, indicating institutional buying of shares.

MacDailyNews Note: Analysts expect Apple to post earnings of $1.92 per share for fiscal Q223; year-over-year growth of 26.32%. The analysts’ consensus estimate calls for revenue of $93.39 billion, down 4% YoY.

Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!

Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]