) as the tech giant gears up to release its earnings report after the market closes today. This highly anticipated report is poised to be one of the most significant ones in this earnings season.), have recently unveiled better-than-expected financial results. However, in some instances, these favorable figures did not translate into immediate stock price gains.After two consecutive quarters of declining revenues and earnings, the consensus forecasts sales of $89.41 billion, up 9.
For the iPhone, analysts expect iPhone revenues to reach $43.73 billion, up slightly from $42.63 billion in Q4 2022. As for services, which notably include the App Store, Apple TV, or Apple Music, revenues are expected to reach $21.36 billion, compared with $19.19 billion in Q4 2022 according to analysts.
Apple's iPhone 15 range, on the other hand, got off to a slow start in the country. Commenting on iPhone sales in China, Bernstein analysts stressed that"the strength of the iPhone 15 cycle is the key question heading into" the results, adding that they expected"moderate" sales of the device due to a lack of new features, strained consumer spending and competition from Huawei.
Analysts have already assessed the stock's growth potential as limited, and according to InvestingPro's valuation models, the stock currently appears to be reasonably valued when considering its financial metrics.
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