Apple stock surge raises stakes as earnings loom - BNN Bloomberg

Companies like Meta are at risk of losing a piece of the 'pie' to emerging companies: Angelo ZinoEven as Apple Inc. contends with rising inflation, cooling consumer demand, the strengthening dollar and lockdowns in China, its share price has surged in recent weeks and is heading for its biggest monthly gain in almost two years, up 15 per cent in July.

The rally means investor expectations are high for the company’s quarterly earnings, due after the market close Thursday. Surprisingly positive results from Microsoft and Google parent Alphabet also have upped the ante for Apple. With inflation surging, consumers are more mindful of expensive buys like smartphones, tablets and laptops. Mid-tier smartphone makers have seen a dip in demand, and global handset shipments fell 9 per cent in the second quarter, according to estimates from Counterpoint Research. Apple is still finding ways to fuel demand for its line of premium products.

This year’s market selloff has made Apple stock relatively cheaper at about 24 times estimated earnings, though the shares are comfortably above their 10-year average of 16.6 times. Meanwhile, the Nasdaq 100 sits at 21 times estimated profit. Samsung Electronics Co.’s quarterly profit missed estimates after cooling demand for consumer gadgets hit its chip division, spurring concern about the outlook for Big Tech in 2022.

The euphoria surrounding Alibaba Group Holding Ltd.’s primary listing plan has evaporated in just two sessions, as focus shifts to the firm’s earnings announcement due next week.

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