Apple Stock

Apple's earnings report came after a 3% rally for the Nasdaq to the tech-heavy index's highest level since September as tech companies largely warded off ...

[demand](https://www.marketwatch.com/story/apple-faces-risk-of-perishable-demand-for-iphones-analysts-say-11670867763) for the iPhone 14 fell short of investor hopes, while Covid-related production issues in China weighed on supply. Shares of the Google parent and the commerce giant sank after each company posted lagging quarterly profits. Facebook parent Meta notched its second-best daily stock gain ever Wednesday after divulging its own quarterly financial results, making its CEO [Mark Zuckerberg](https://www.forbes.com/profile/mark-zuckerberg/?list=rtb/&sh=1ab1dab53e06) $12 billion richer. Cook is worth $1.8 billion, according to Forbes’ [latest estimates](https://www.forbes.com/profile/tim-cook/?sh=51336df3ea4d). Apple lost nearly $100 billion in market cap based in after hours trading. Apple stock suffered through its worst year since 2008 last year as the global economy weakened, declining 27%, outperforming the tech-heavy Nasdaq but far underperforming the Dow Jones Industrial Average and the S&P 500. That was Apple’s market capitalization at Thursday’s market close, by far the largest of any public company. [Alphabet](https://abc.xyz/investor/static/pdf/2022Q4_alphabet_earnings_release.pdf?cache=9de1a6b) and [Amazon](https://press.aboutamazon.com/2023/2/amazon-com-announces-fourth-quarter-results) also reported earnings after the bell Thursday. [Apple Will Talk Up Its Mixed-Reality Headset in 2023 But Not Much Else](https://www.bloomberg.com/news/articles/2023-01-18/apple-postpones-ar-glasses-plans-cheaper-mixed-reality-headset) (Bloomberg) [Meta Stock Notches Best Day In 10 Years](https://www.forbes.com/sites/dereksaul/2023/02/02/meta-stock-on-pace-for-best-day-in-10-years/?sh=7f9d2201257e) (Forbes) Apple stock could be a “tale of two halves in 2023,” Bank of America analyst Wamsi Mohan wrote in a note to clients previewing earnings, predicting shares could rally on the back of “new product momentum” as the company [reportedly](https://www.bloomberg.com/news/newsletters/2023-01-08/when-will-apple-launch-the-reality-pro-mixed-reality-headset-apple-2023-devices-lcnfzkc7) angles to launch a mixed reality headset later this year. The company reported $65.8 billion in iPhone sales in the quarter, an 8% decrease from the same period a year prior and short of analyst expectations. [first](https://www.cnbc.com/2023/01/30/apple-expected-to-post-first-revenue-decline-since-2019-on-thursday-.html) year-over-year decline since 2019 and a 5% decrease from the same timeframe last year, and tallied $30 billion in profit in the period, or $1.88 per share, an 11% decline.

Apple's overall sales for the holiday quarter were about 5% lower than last year's, the first year-over-year sales decline since 2019.

IPhone and Mac sales were down year over year. - Services revenue: $20.77 billion vs. - Other Products revenue: $13.48 billion vs. - iPad revenue: $9.4 billion vs. - Mac revenue: $7.74 billion vs. - iPhone revenue: $65.78 billion vs. - Revenue: $117.15 billion vs. "And so obviously you need to bring in people that are not currently active on a device in order to grow." The primary iPhone assembly plant in China was affected by Covid lockdowns during the quarter, a warning that had been made to investors in November. It also represented a regression from Apple's success over the past two years driven by a need for new computers to work and go to school from home. Services are expected to grow, Maestri said, but Mac and iPad sales are both expected to decline double digits from the year-earlier period. Apple's overall sales for the holiday quarter were about 5% lower than last year's, the first year-over-year sales decline since 2019.

Apple's Phone business was hit by COVID-19 curbs in China. The company's upcoming earnings report will show how deeply the company was impacted.

Consensus estimates call for $7.8 billion in iPad revenue, up from $7.2 billion a year before, along with $9.4 billion in Mac revenue, down from $10.9 billion. analyst Krish Sankar wrote in a note to clients. Services revenue is expected to rise to $20.4 billion from $19.5 billion. Stock movement: Apple shares have risen after three of the company’s past five earnings reports, including both of the last two. According to Estimize, which crowdsources projections from hedge funds, academics, and others, the average estimate is for $1.98 a share. Apple isn’t expected to top that record this time around, but the Mac business could still be a source of upside amid iPhone uncertainty. The stock has fallen about 19% over the past 12 months, though it’s ahead 9% to start 2023. Analysts are less concerned by what happened in the December quarter than they are with Apple’s ability to recapture those lost sales moving forward. billion a year before. Apple Inc.’s iPhone business was hit by COVID-19 curbs in China. Analysts model $15.3 billion in revenue from wearables, home and accessories for the quarter, up from $14.7 billion a year earlier. Revenue: The FactSet consensus calls for $121.4 billion in December-quarter revenue, down from $123.9 billion a year prior.

Consumer electronics giant Apple missed Wall Street's sales and earnings targets for its fiscal first quarter. Apple stock fell on the news.

In the December quarter, Apple's iPhone revenue sank 8% to $65.8 billion. Smartphones accounted for 56% of the company's total sales in the period. The best growth stocks have a Composite Rating of 90 or better. Meanwhile, Apple's Mac computer sales tumbled 29% to $7.7 billion. "We set an all-time revenue record of $20.8 billion in our services business," Maestri said. But hardware revenue declined 8% to $96.39 billion. During the regular session Thursday, Apple stock rose 3.7% to close at 150.82. Analysts polled by FactSet had expected earnings of $1.94 a share on sales of $121.4 billion. The Cupertino, Calif.-based company earned $1.88 a share on sales of $117.2 billion in its fiscal first quarter ended Dec. On a year-over-year basis, Apple earnings fell 10% while sales dropped 5%. Apple's services revenue increased 6% year over year to $20.77 billion in the December quarter. Apple executives accentuated the positive in the company's

Apple's stock saw an immediate and sharp decline as the company reported earnings that didn't live up to Wall Street's expectations, but as Tim Cook talked ...

Specifically, the [earnings reports](https://appleinsider.com/articles/23/02/02/apple-posts-11715b-in-revenue-first-miss-in-five-years) arrived around 4:30 P.M. The analyst questions were mostly — and unsucessfully — trying to squeeze future product information out of Cook. [Tim Cook](https://appleinsider.com/inside/tim-cook) both repeatedly pointed to economic uncertainty and issues in [Chinese factories](https://appleinsider.com/articles/23/02/02/tim-cook-iphone-manufacturing-is-the-main-reason-for-earnings-miss) as reasons for the miss. It spiked back to about $150, briefly, and has since fallen back down to about $146. Investors generally remain bullish about large entities like Apple, but the quarterly results reflected a rare

Apple Inc (NASDAQ: AAPL) is set to print first-quarter financial results after the market closes Thursday. The stock was spiking up about 3% heading into ...

If Apple enjoys a bullish reaction to its earnings print and flies higher on Friday, a pullback is likely to come next week. The move higher on Thursday was the result of the stock breaking up from a bull flag pattern that was formed between Jan. The measured move of the bull flag is about 18%, which suggests the stock could surge toward $166 if the uptrend continues. Apple’s relative strength index (RSI) is measuring in at about 70%. The 200-day SMA is a bellwether indicator, and when a stock trades above the area, it’s bullish. For that quarter, Apple reported an EPS of $1.29 on revenue of $90.1 billion.

Apple earnings show just how tough the macroeconomic environment has been for the hardware giant. Are layoffs next?

But its directional insights — or “color,” as Apple CEO Tim Cook calls it — allow analysts covering the stock to get a sense of how the company is doing and ...

Mac sales will be down at least 10% in the March quarter, based on these comments, but will likely improve. Now Apple is suggesting the business will go from 30% growth to more than a 10% decline. Apple CEO Tim Cook said it was "very hard to estimate" this possibility when analysts asked on the call. A similar decline in the March quarter this year would put sales around $92 billion. But its data points — or "directional insights," as management calls it — allow analysts covering the stock to get a sense of how the company is doing and update their models. "This represents an acceleration in our underlying year-over-year business performance, as the December quarter benefited from an extra week." In other words, December 2022's year-over-year revenue performance was even worse than it looked. But Maestri's comment suggests they won't continue to fall as quickly in the March quarter. If you look at our OpEx guidance, what we said we were going to do this quarter, we came in half of a billion dollars underneath it," Cook said. "We're being prudent and deliberate. Last year, in the March quarter, Apple reported $97.28 billion in sales. Apple said on Thursday that iPhone sales had declined over 8% year over year.

Oh. Well, so much for the rally in Apple (NASDAQ:AAPL) stock. After surging nearly 4% in Thursday's trading session, the computing colossus from Cupertino, ...

Unfortunately, Apple didn’t give investors specific guidance on what it expects for sales or earnings in Q2, and what Ives said on the matter was more than a little concerning. If the company missed on sales in Q1, but those sales weren’t lost, but merely pushed into a later quarter, doesn’t that seem to imply that Q2 will now be stronger than analysts had expected? With Apple’s contractors’ factories in China unable to run full throttle in the face of China’s zero-Covid restrictions (which were only lifted partially in December, and fully in January), Apple simply wasn’t able to build all the iPhones, iPads, and other iGadgets it would have liked to sell. With cash from operations dwindling, and capital spending on the rise, Apple generated only $30.2 billion in positive cash profits for Q1. But it still represented a 32% year over year decline from the $44.2 billion in free cash flow that Apple churned out in fiscal Q1 2022 — six times the rate of the revenue decline. Wall Street was actually hoping to see something more along the lines of $1.94 per share in profit, and $121.1 billion in sales.

Apple (AAPL) CEO Tim Cook and his righthand CFO Luca Maestri channeled their inner Wall Street economist on the tech giant's earnings call late Thursday, ...

Apple shares slumped lower Friday after the tech giant posted its first quarterly earnings miss in six years, alongside its first annual revenue decline ...

Earnings at Alphabet and Amazon miss analysts' estimates. Fiscal first-quarter revenue of $117.2 billion at Apple falls 5% from a year earlier, marking the ...

Stocks making the biggest moves after hours: Apple, Amazon, Ford and more · Apple — The consumer tech stock tumbled 4% in extended trading after the company ...

[Ford](/quotes/F/) — Shares of the automaker tumbled 6% in extended trading after [fourth-quarter earnings](https://www.cnbc.com/2023/02/02/ford-f-earnings-q4-2022.html) fell far short of expectations, despite better-than-expected revenue. [Starbucks](/quotes/SBUX/) — Shares fell about 1% after the coffee-shop chain missed expectations on both per-share earnings and revenue in its fiscal [first quarter](https://www.cnbc.com/2023/02/02/starbucks-sbux-q1-2023-earnings.html). [Qualcomm](/quotes/QCOM/) — Shares of the chipmaker dipped 1.5% in extended trading after Qualcomm reported $2.37 in adjusted earnings per share for its fiscal first quarter. [Amazon](/quotes/AMZN/) — Shares of the e-commerce giant fell more than 3% in extended trading despite [beating revenue estimates](https://www.cnbc.com/2023/02/02/amazon-amzn-earnings-q4-2022.html) for the fourth quarter. [Skechers](/quotes/SKX/) – The shoe company's shares slipped by more than 2% in extended trading after Skechers gave soft guidance on earnings and revenue for its first quarter, as well as weak guidance for the full year. [Cirrus Logic](/quotes/CRUS/) – The semiconductor supplier's shares tumbled 7% in extended trading after the company gave weak guidance on fiscal fourth quarter revenues versus analysts' estimates, according to Refinitiv. [Alphabet](/quotes/GOOGL/) — Alphabet dropped more than 5% in extended trading after the Google parent company [missed expectations](https://www.cnbc.com/2023/02/02/alphabet-googl-earnings-q4-2022.html) on the top and bottom lines for the fourth quarter, according to analyst estimates from Refinitiv. The company beat Wall Street's expectations for the fiscal second quarter, posting earnings of 98 cents per share, excluding items, on revenue of $1.72 billion. [Gilead Sciences](/quotes/GILD/) — Shares of the pharmaceutical company rose 4% after the bell following a stronger than expected fourth-quarter report. The company reported $1.88 in earnings per share on $117.15 billion of revenue. [Atlassian](/quotes/TEAM/) — Shares of Atlassian shed 12% after hours when the software company posted a loss for its latest quarter. Analysts surveyed by Refinitiv were expecting $1.94 in earnings per share and $121.10 billion of revenue.

Shares of three tech bellwethers—Alphabet, Amazon and Apple—were set for declines Friday, after the trio's latest quarterly reports showed how a weakening ...

Shares of three tech bellwethers—Alphabet, Amazon and Apple—were set for declines Friday, after the trio's latest quarterly reports showed how a weakening economy is hitting their businesses. The results offered a reality check for investors, who had driven shares in the tech giants sharply higher in the first weeks of 2023 as part of a broad rally in riskier assets.\n\nThe earnings also contrasted with those of Facebook parent Meta, whose shares soared 23% on Thursday after it issued an upbeat earnings report and earmarked another $40 billion for buybacks.

After missing its December-quarter targets due to iPhone supply shortages, Apple (AAPL) forecast a better setup for the March quarter as production has ...

"What started out as supply shortages has shifted to demand weakness and potentially oversupply for some hardware categories," Long said in a note to clients. Meanwhile, Wall Street had been looking for a revenue decline of less than 1% in the March quarter. In the December-quarter, Apple's gross margin was 43%. On a year-over-year basis, Apple earnings fell 10% while sales dropped 5%. Apple stock rose on Friday despite the company's disappointing earnings report. Analysts polled by FactSet had expected earnings of $1.94 a share on sales of $121.4 billion.

With COVID-19 supply constraints in the rear-view mirror, Apple Inc. is now inviting some concern about demand.

“Bears will be quick to point out negative sales growth but we note when adjusting for FX that sales and outlook are flat, which is materially better than other consumer-electronic companies.” Apple declined once again to offer a traditional forecast, meaning that investors didn’t get a ton of useful information about how the iPhone business is expected to hold up. “The biggest unanswered question is whether or not weaker consumer spending will start to hurt iPhone,” wrote Oopenheimer’s Martin Yang. But upon reporting even-weaker-than-expected sales of iPhones, Macs, and wearables for the latest quarter Thursday, Apple Chief Executive Tim Cook also said that “production is now back where we want it to be.” analyst Krish Sankar wrote following the report, as he maintained an outperform rating but cut his price target to $195 from $200. While she cut her price target on Apple’s stock to $170 from $185, she kept an outperform rating, saying that Apple is a “core tech holding, which is likely to provide a relative support for shares despite the market volatility.”

Shares of Amazon and Alphabet fell in morning trading Friday, while Apple shares were flat, following quarterly reports that showed broad signs of a slowing ...

Wedbush analyst Daniel Ives raised his target to $180 from $175 and kept an “Outperform” rating. Piper Sandler analyst Thomas Champion lowered the firm’s price target on Alphabet to $120 from $122, meaning he expects the stock to gain just about 10% for the rest of the year. Sebastian raised the firm’s price target to $125 from $120 and kept an “Outperform” rating on the shares, stating that the company’s e-commerce results weren’t as bad as feared and pointing to accelerating subscriptions growth from Prime sign-ups and pricing. JPMorgan analyst Samik Chatterjee made the reverse move, cutting his price target to $175 from $180, and stating that Apple’s guidance reflects a “deeper down cycle” for consumer projects like smartphones and personal computers. Amazon shares, which rallied 28% year to date, dropped $5.61, or 5%, to $107.30. Barclays analyst Ross Sandler, however, raised his price target to $160 from $150, with an “Overweight” rating, stating in a note to clients that the company “sounded very constructive on efficiency improvements going forward,” according to TheFly.com.

Check out the companies making headlines in premarket trading. Alphabet — Shares declined more than 3% after Google-parent Alphabet missed analyst ...

[Qualcomm](/quotes/QCOM/) — The semiconductor group saw its stock drop almost 3% after [its top line fell short during its fiscal first quarter](https://www.cnbc.com/2023/02/02/qualcomm-qcom-earnings-q1-2023.html). [Amazon](/quotes/AMZN/) — Amazon dropped 4% after the e-commerce giant reported its [fourth-quarter results](https://www.cnbc.com/2023/02/02/amazon-amzn-earnings-q4-2022.html). [earnings report fell short of expectations](https://www.cnbc.com/2023/02/02/starbucks-sbux-q1-2023-earnings.html). [Ford](/quotes/F/) – Shares of Ford slipped 6.5% after the company [reported earnings](https://www.cnbc.com/2023/02/02/ford-f-earnings-q4-2022.html) that badly missed Wall Street's earnings expectations. [Apple](/quotes/AAPL/) — The tech giant saw its stock fall about 2% in premarket after [the company missed expectations](https://www.cnbc.com/2023/02/02/apple-aapl-earnings-q1-2023.html) for revenue, profit, and sales for many of its lines of business. [Clorox](/quotes/CLX/) — The cleaning products producer saw its shares rise 3.55% before the bell on the back of strong quarterly numbers. [Nordstrom](/quotes/JWN/) — Shares of Nordstrom rallied 27% after The Wall Street Journal reported that activist investor Ryan Cohen is building a sizeable stake in the retailer. It posted revenue of $76.05 billion, less than the forecasted $76.53 billion. That compares to earnings of 65 cents per share on revenue of $1.66 billion estimated by analysts, according to Refinitiv. [Alphabet](/quotes/GOOGL/) — Shares declined more than 3% after Google-parent Alphabet missed analyst expectations in its latest earnings report. The automaker reported adjusted earnings per share of 51 cents on $41.8 billion in revenue where analysts polled by Refinitiv expected adjusted earnings per share of 62 cents and $40.37 billion in revenue. [Market Insider](https://www.cnbc.com/market-insider/)

Shares of Apple (AAPL 3.65%) were up 3.5% as of 11:37 a.m. ET on Friday after the company delivered fiscal first-quarter earnings on Thursday following the ...

Services revenue surpassed $20 billion in the quarter -- nearly a fifth of Apple's business. Despite the headwinds, Apple has a nice synergy of products and services coming together. iPhone revenue was flat year over year adjusted for currency, but the long wait times indicate that revenue could have been higher if not for the supply shortages. The stock was initially trading lower at the market open today, as Apple's earnings and revenue came in below Wall Street's estimates. Revenue fell 5% year over year to $117.2 billion, with earnings per share coming in at $1.88. CEO Tim Cook touted the company's lineup of products and services as the best ever.

Shares of Apple recovered post-earnings losses as the stock rebounded 3.4% on Friday. The company Thursday after the bell reported a decline in revenue for ...

Its stock fell in after-hours trading Thursday and opened lower Friday.\n\nInvestors appeared to swoop in to buy the weakness in Apple, as shares bounced back intraday Friday.\n\nOther tech giants that reported disappointing quarterly results were less lucky.\n\nAmazon was down 4.9%.\nAlphabet fell 0.8%.

If markets move up, so too will AAPL stock, due to its index weighting. As a single-stock pick, we choose to not own it in staff personal accounts.

And since Apple is such a big chunk of the indices and their ETFs - then if this is to happen, Apple stock is going to go up too. [INTC](https://seekingalpha.com/symbol/INTC)) and Meta Platforms ( [META](https://seekingalpha.com/symbol/META)), there are multiple factors at work than we believe can drive the stocks up from here, almost none of which are to do with the fundamentals. In short, the numbers cause us to believe the days of Apple's hegemony are numbered, and as a single stock name we'd sooner avoid it at this price. Price drops to reflect the fundamentals? Any information or analysis in this note is not an offer to sell or the solicitation of an offer to buy any securities. Doing the whole dividends and buyback and warm'n'fuzzy feeling thing. And if the second term is lost, with all that good feeling gone to waste? If Apple moves up we get the benefit through long index ETF positions; moves down, through short index ETF positions. We don't, however, own the name in staff personal accounts. Oh and the major dumpage that took place in 2022 meaning the indices can run up from a very dark place to a happy sunlit upland. Any opinions, analyses, or probabilities expressed in this note are those of the author as of the note's date of publication and are subject to change without notice. And if markets are going to move up, so too is Apple stock, due to its index weighting.

Apple (AAPL) CEO Tim Cook and his righthand CFO Luca Maestri channeled their inner Wall Street economist on the tech giant's earnings call late Thursday.