Apple’s stock is up ahead of earnings as investors bet on a beat. The company is set to report fiscal second-quarter results on Thursday, May 4th just after market close.
Patrick Seitz for Investor’s Business Daily:
Analysts polled by FactSet predict Apple will earn $1.43 a share, down 6% year over year, on sales of $92.9 billion, down 5%.
Wall Street is hoping for positive news from Apple sales in China and India as well as continued services growth.
Year to date, Apple stock is up 29.9%. That compares with an 8.5% rise for the S&P 500.
MacDailyNews Take: Apple, of course, also contributes strongly to the S&P 500 as a major component.
In a recent note to clients, Morgan Stanley analyst Erik Woodring called Apple “the best house in a challenged neighborhood.” He rates Apple stock a “top pick” with a price target of 180.
“Investors are attracted by the company’s quality of earnings and its strong balance sheet in an uncertain macro environment,”[Deutsche Bank analyst Sidney] Ho said in a note to clients. “We expect this investor preference to continue.”
MacDailyNews Take: Apple shares remain laughably undervalued.
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.
Hmmm; I understand that IDC’s reporting isn’t always on target with AAPL, but f Q123, they note Macs dropped 40.5 percent, more than that seen by Lenovo, HP, Dell, Asus, and all the companies lumped in with “Others.”
Somewhere else, the decline estimated was just under 30%.
Safe to say, there’s some pain.
Probably AAPL is going to tank after earning reports next week. Nothing guaranteed, however I hope I am wrong!. Good luck to all.
This is what usually happens, tanks or stays stagnant, rarely pops.
This must really annoy Apple Scene-hick.
Not sure what you’re talking about, but you really should turn off your electronics when you go off on a bender. Idiot.