iPhone and iPad maker Apple (NASDAQ: AAPL) will be reporting earnings tomorrow after market hours. Here’s what to look for.
Apple met analysts’ revenue expectations last quarter, reporting revenues of $124.3 billion, up 4% year on year. It was a strong quarter for the company: Apple’s revenue met analysts’ expectations, and the beat in Services was a bright spot. In addition, its EPS outperformed Wall Street’s estimates.
Is Apple a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Apple’s revenue to grow 4.1% year on year to $94.45 billion, a reversal from the 4.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.62 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Apple has missed Wall Street’s revenue estimates three times over the last two years.
Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.