Apple Stock Earnings Forecast: What To Watch

had both positive and negative news for shareholders. In the second quarter, Apple outperformed analyst expectations for EPS, revenue and gross margin. EPS came in at $1.52 per share vs. an expected $1.43. Revenue was $94.84 billion vs. an expected $92.96, and gross margin was 44.3% vs. an expected 44.1%.

Both factors also affected the iPad business, which saw a year-over-year revenue decline of 13% to $6.67 billion.On the bright side, the company grew its services revenue more than 5% from the prior-year quarter, reaching an all-time high. This performance helped Apple hold EPS flat with the prior year despite the topline revenue decline.Apple will report results for its third quarter of fiscal 2023 on Thursday, August 3. Look for a news release to hit the wires at about 4:30 p.m. ET. At 5:00 p.

Right now, it looks like fiscal 2023 is shaping up to be a tough one for Apple. How this affects your trading decisions depends on your investing style. Short-term investors may want to take some profits. But fundamentally, Apple is a strong company with competitive margins and a loyal customer base. As long as those advantages remain, long-term investors won’t be scared away by one bad year.

Not all analysts see it that way, however. Apple price targets published in June and July of this year range from $185 all the way up to $240. The consensus is $192.11.often does rise following an earnings release. Over the last four quarters, Apple stock has risen between 2.4% and 7.6% the day after the company released its earnings. That includes the first quarter of 2023 when Apple's earnings missed analyst expectations by $0.06 and notched a 10.5% decline from the prior year.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

AMD stock rallies more than 4% on earnings beatAdvanced Micro Devices Inc. shares surged in the extended session Tuesday after the chip maker's results topped Wall Street estimates.
Source: MarketWatch - 🏆 3. / 97 Read more »

Lumen posts mixed earnings and stock pulls back after Tuesday rallyThe telecommunications company posted a mixed set of results for its latest quarter.
Source: MarketWatch - 🏆 3. / 97 Read more »

AMD stock rises 3% after earnings beat, CEO predicts 'multiple winners' in AI raceAdvanced Micro Devices Inc. shares surged in the extended session Tuesday after the chip maker's results topped Wall Street estimates.
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock market news today: Indexes mixed amid earnings, economic dataUS stocks trade mixed amid earnings rush and fresh economic data
Source: BusinessInsider - 🏆 729. / 51 Read more »

Generac’s stock drops as softer consumer backdrop helps spark mixed earningsGenerac Holdings Inc. shares were falling more than 3% in premarket trading Wednesday after the company, which sells generators and other backup power...
Source: MarketWatch - 🏆 3. / 97 Read more »

Qualcomm stock slips further after hours as outlook overshadows earnings beatQualcomm shares declined further in Wednesday's extended session as the chip maker's forecast was on the low side of Wall Street estimates.
Source: MarketWatch - 🏆 3. / 97 Read more »