5 Wall Street banks discuss Apple stock after earnings
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.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple dominated Wall Street's buyback business even before its latest $110 billionIn the last 12 months, Apple bought back $84.5 billion in stock, far more than any other company in the S&P 500.
Read more »
Apple sales fall less than expected, beating Wall Street estimatesApple shares saw a boost in aftermarket trading after beating Wall Street's estimates with a year-over-year sales decline of 4.3%, while iPhone sales remain flat.
Read more »
Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Nov 02, 2023 when Wall Street traded near 33,825.70.Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.
Read more »
5 big analyst AI moves: Is Wall Street underestimating Apple’s AI play?5 big analyst AI moves: Is Wall Street underestimating Apple’s AI play?
Read more »
Jim Cramer says Wall Street is too cynical about Jerome Powell, Nvidia and AppleCNBC’s Jim Cramer on Thursday said Wall Street should be less jaded and trust market-moving leaders.
Read more »
Jim Cramer says Wall Street's too cynical on Jerome Powell, Nvidia and AppleCNBC's Jim Cramer on Thursday said Wall Street should be less jaded and trust market-moving leaders.
Read more »