As the stock prepares for its much-needed relief rally, we highlighted five analyst takeaways from the tech giant’s latest earnings report.On Thursday, Apple reported earnings for the fiscal second quarter of 2024 that surpassed Wall Street estimates.
Looking ahead, Apple did not provide specific guidance for the upcoming quarter, but Cook told CNBC that he expects overall sales growth in the low single digits for the June quarter. In the previous June quarter, Apple reported a revenue of $81.8 billion, while analysts looked for a forecast of $83.23 billion.
“Crucially, with June-qtr guide behind, we think a set of positive catalysts should help drive the stock higher as we go into WWDC where AAPL will provide details around their AI strategy across both hardware and services. We think Apple can deliver AI upside without the AI capex we see elsewhere.”: “Amid concerns over China iPhone weakness + decelerating services growth, we see AAPL's better-than-feared F2Q24 results + F3Q23 guide as a positive clearing event.
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