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Trefis expects Apple to beat the Street with February 2nd earnings report

Friday January 27, 2023. 04:09 PM , from Mac Daily News
Trefis estimates that Apple’s revenue will come in around $123 billion for the quarter, marginally ahead of consensus estimates, which would mark a slight year-over-year decline. Apple faced closure of Foxconn’s “iPhone City” factory complex due to the CCP’s quixotic “Zero COVID” lockdowns, now reportedly abandoned. Trefis estimates that Apple’s earnings will come in at close to $1.99 per share, vs. the analysts’ consensus of $1.97 per share. A beat by Apple of both metrics.

Trefis Team via Forbes:

Apple is slated to report its Q1 FY’23 results on February 2, reporting on a quarter that saw the company contend with supply chain headwinds for its flagship iPhones.
At the current market price of $136 per share, Apple stock trades at just over 22x forward earnings, which we believe is reasonable given the company’s earnings growth prospects, and solid balance sheet. Apple should also handle a potential economic downturn better than its tech peers given its ecosystem lock-in, the high desirability of its products, and the ability to upsell to existing customers. We continue to remain bullish on Apple stock, with a $166 price estimate which is about 24% ahead of the current market price.

MacDailyNews Note: On January 27, 2022, Apple announced financial results for its fiscal 2022 first quarter ended December 25, 2021. The company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10.
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The post Trefis expects Apple to beat the Street with February 2nd earnings report appeared first on MacDailyNews.
https://macdailynews.com/2023/01/27/trefis-expects-apple-to-beat-the-street-with-february-2nd-earnin...
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