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Apple’s $300 billion rebound faces reality check with earnings

Tuesday April 30, 2019. 04:46 PM , from Mac Daily News
“Apple Inc. has a lot to live up to with its earnings report coming on the heels of a rally that has added almost $300 billion of market value this year,” Jeran Wittenstein writes for Bloomberg. “The shares are up 43 percent from a 21-month low touched in early January after worse-than-expected iPhone sales prompted the company to cut its fiscal first-quarter revenue forecast.”
“Poor iPhone sales in China were a big reason Apple cut its forecast in January. Investors are keen to know if trends in that critical region have improved,” Wittenstein writes. “With iPhone sales shrinking, investors have become increasingly fixated on services revenue, which continues to grow quickly. Wall Street is anticipating sales of $11.2 billion in the fiscal second quarter, up 22 percent from the same period last year, according to data compiled by Bloomberg.”
“Apple has traditionally updated its capital-return plans with the fiscal second-quarter earnings report,” Wittenstein writes. “This time, Apple could add as much as $100 billion to its share repurchase authorization and raise its dividend by as much as 16 percent, according to Loup Ventures’ Gene Munster.”
Read more in the full article here.
MacDailyNews Take: Here’s a real reality check: That $300+ billion should have never been shaved off to begin with (as anyone who looked past knee-jerk analysts, anti-Apple pundits, and panicky mom & pops to see the fundamentals knows). And, hey, we’re not complaining: Any deep AAPL discount sale that the irrational Mr. Market wants to run is always fine with us accumulators!
SEE ALSO:
3 keys to watch for in Apple’s Q219 earning report today – April 30, 2019
Apple looks poised to beat expectations with Q219 earnings release on April 30th – April 29, 2019
Apple has been battered all year by bad headlines, but stock keeps rising – April 29, 2019
What to expect from Apple’s Q219 earnings report on April 30th – April 25, 2019
Apple’s Q219 earnings will be revealed on April 30th – April 2, 2019
https://macdailynews.com/2019/04/30/apples-300-billion-rebound-faces-reality-check-with-earnings/
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