Apple set to post rare revenue drop as focus shifts to demand rebound
$Apple(AAPL.US$ is expected to report its first decline in quarterly revenue in nearly four years after strict COVID-19 curbs in China rapped the economy and related protests upended iPhone production at its biggest supplier $Foxconn Concept(BK1179.HK$
Investors will look for details on how Chief Executive Tim Cook is trying to bolster demand in a weak economy that has prompted mass layoffs in the tech industry, a move Apple has so far avoided thanks to frugal hiring during the pandemic.
FUNDAMENTALS
** Revenue estimated to have fallen 2% in the last three months of 2022, Apple's first fiscal quarter.
** IPhone sales likely fell for first time since 2020, while services business rose 6%.
** Analysts expect net income to have dropped 10.4%; earnings per share of $1.94
** Apple's shares fell about 27% in 2022 and have gained nearly 10% in January
WALL STREET SENTIMENT
** Since October, analysts have lowered some forecasts on Apple for the first quarter
** Revenue estimated to have fallen 2% in the last three months of 2022, Apple's first fiscal quarter.
** IPhone sales likely fell for first time since 2020, while services business rose 6%.
** Analysts expect net income to have dropped 10.4%; earnings per share of $1.94
** Apple's shares fell about 27% in 2022 and have gained nearly 10% in January
WALL STREET SENTIMENT
** Since October, analysts have lowered some forecasts on Apple for the first quarter
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Video Sharer
news porter, welcome and respect all view~
1910Followers
33Following
5168Visitors
Follow