Apple is predicted to report revenue of $1.54 per share for the most recent quarter, representing an improvement of +5.5% from last year. Therefore, investors might expect a decent trading opportunity upon the report's release.
Apple Inc. (AAPL) Quarterly Earnings Projection
In the most recent quarter, Apple stated $85.78 billion in revenue, a +4.9% increase from the previous year. EPS of $1.40 for this period is comparable to $1.26 for last year's time frame.
The disclosed revenues are a +1.59% surprise compared to the $84.43 billion Analysts Consensus Projection. The surprise in EPS was +4.48%.
Even though earnings growth is perhaps the best measure of a business's financial condition, nothing happens if a company can't increase its revenues. After all, without revenue growth, it is almost impossible for a business to sustain a long-term increase in earnings. Therefore, understanding a company's potential for revenue growth is crucial.
Apple's current quarter consensus revenue forecast of $94.43 billion indicates a +5.5% year-over-year transformation. The $390.54 billion and $421.48 billion projections for the present and upcoming fiscal years indicate changes of +1.9 % and +7.9 %.
In the last four quarters, the company has exceeded consensus EPS forecasts and consistently exceeded consensus revenue projections.
Apple's iPhone Sales in Focus
The company's iPhone outcomes, which typically occupy center stage, are an important thing to watch during the next release. Investors can anticipate a fair amount of discussion about the approaching artificial intelligence (AI) capabilities and the new iPhone 16 that the business has been promoting recently.
Apple AAPL unveiled an updated iMac desktop featuring the new M4 CPU on Monday. The updated one-stop computer promises performance gains of up to 1.7 times for everyday use and up to 2.1 times for activities like editing photos and gaming when compared to the model before it with the M1 chip. The iMac comes with a 24-inch Retina display, a 12-megapixel Center Stage camera, as many as four Thunderbolt 4 ports, and seven different color options: green, yellow, orange, blue, pink, purple, and silver. Its memory is sixteen gigabytes as well.
AAPL Stock Forecast Technical Analysis
In the daily chart of AAPL stock price, the ongoing buying pressure is questionable as the recent price squeezes within a triangle pattern. In that case, investors might find a stable trend once there is a decent bearish break from the triangle support.
In the broader view, the 200-day Simple Moving Average is below the current Apple stock price, with a wider gap. Although a bullish cross is visible at the 196.29 static line, a bearish correction is pending as a mean reversion. Moreover, the 50-day EMA is closer to the triangle support and works as a crucial barrier to sellers.
Based on this outlook, a valid selling pressure with a stable market below the 227.77 static line could lower the price towards the 212.00 level. However, a bullish rebound is possible after having a bullish rebound from the 228.00 to 220.00 area. In that case, the buying pressure might extend towards the 260.00 to 280.00 area.
