All eyes will be on Apple (AAPL) tomorrow.
After some disastrous earnings, there’s hope Apple has some good news for us. One of the key things to look for is the iPhone 14 sales figures. Analysts want to know if sales are on pace for solid growth, or if they’re getting weighed down by softer consumer spending.
Here’s what we’re seeing from analysts so far.
Deutsche Bank analyst Sidney Ho expects for Apple earnings to be in line.
As noted by TheFly.com, “Ho thinks the slower growth is already anticipated by the market, especially given recent media reports suggesting Apple is cutting iPhone orders and the stock pulling back 20% from the August peak. He also believes the company’s ‘strong balance sheet will shine in the current environment,’ supporting its dividend payments and share repurchases totaling $100B annually.”
Morgan Stanley analyst Eric Woodring sees Q4 revenue of $90.1 billion, and December quarter revenue of $133.7 billion. Both would be above analyst expectations. The analyst also says Apple is his top pick, reiterating an overweight rating, with a price target of $177.
Also, Bernstein analyst Toni Sacconagh says, as quoted by CNET.com, “We worry that Apple may have been a Covid beneficiary, amid work/learn from home and strong consumer spending, which could reverse, particularly as consumers’ spending priorities change.”
Let’s just hope Apple can give markets a boost tomorrow. Or, we could be in for more pain.
