Apple Slides After Guiding Below Consensus, Missing On Wearables, China And Service Revenues [zero hedge]
Apple Inc. (AAPL)
Last apple inc. earnings: 4/30 04:30 pm
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Source: zero hedge
Apple Slides After Guiding Below Consensus, Missing On Wearables, China And Service Revenues Update (530pm ET) : AAPL is sliding to session lows after hours after revealing some very lukewarm guidance on the call, saying it now expects Q1 revenue to grow in the low to mid-single digits YoY (assume 4-6%). The sellside consensus is at 7%. As Bloomberg notes, “low to mid single digits” growth means a slowdown for Apple, which just reported a 6% sales rise. So it’s understandable why shares moved south after that pronouncement. They’re now down about 2% in extended trading. So much for the AI revolution sparking a new iPhone supercycle (which would lead to double digit revenue growth). $AAPL FQ1 guide is low to mid-single-digit revenue growth vs consensus of 7%. That also does not imply the double digit #superCycle growth that some have predicted. — Walter Piecyk (@WaltLightShed) October 31, 2024 * * * Ahead of earnings, UBS had Apple sentiment at a relatively subdued 6/10. That's because
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- Sirius XM (SIRI) Q3 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Apple's services unit is now a $100 billion a year juggernaut after 'phenomenal' growth [MSNBC.com]MSNBC.com
- CNBC Daily Open: For Big Tech, beating earnings expectations is not enough [CNBC]CNBC
- Peloton Rallies After Tapping Ford Executive as Its Next CEO [Yahoo! Finance]Yahoo! Finance
- Apple's services unit is now a $100 billion a year juggernaut after ‘phenomenal' growth [CNBC]CNBC
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- 10/31/24 - Beat
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- 10/31/24 - Form 8-K
- 10/17/24 - Form 4
- 10/8/24 - Form 4
- AAPL's page on the SEC website