{"id":4926,"date":"2023-10-24T06:52:46","date_gmt":"2023-10-24T06:52:46","guid":{"rendered":"https:\/\/infundpros.com\/investment\/apple-faces-ominous-setup-heading-into-earnings-analyst-warns\/"},"modified":"2023-10-24T06:52:47","modified_gmt":"2023-10-24T06:52:47","slug":"apple-faces-ominous-setup-heading-into-earnings-analyst-warns","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=4926","title":{"rendered":"Apple faces \u2018ominous\u2019 setup heading into earnings, analyst warns"},"content":{"rendered":"
\n

Apple Inc. faces \u201cominous headwinds\u201d going into its next earnings report, an analyst warned Monday.<\/p>\n

\u201cIn our view, the combination of a downtrodden economy plagued by pernicious inflation, an emboldened Huawei, a new iPhone family with only incremental
updates, and the maturity of the smartphone market, paint a bleak picture for iPhone trends,\u201d Monness, Crespi, Hardt & Co. analyst Brian White said in a Monday report to clients. <\/p>\n

\n

Apple
\n AAPL,
\n +0.07%<\/bg-quote>
\n released all four of its iPhone models at the same time this year, which is a potential tailwind to September-quarter revenue growth relative to last year, when Apple conducted a staged launch. That said, White thinks the iPhone 15 cycle will be \u201cuninspiring\u201d given the maturity of the smartphone market and a tough macroeconomic backdrop.<\/p>\n

The company is due to report results after the close of trading Nov. 2.<\/p>\n

Read:<\/strong> Here\u2019s what Apple\u2019s iPhone 15 says about the world<\/p>\n

White also worries about regulatory issues and escalating geopolitical tensions, which suggest \u201cthe darkest days of this downturn are ahead of us,\u201d he said.<\/p>\n

He nonetheless continues to rate the stock a buy, citing the company\u2019s services business as one upbeat factor.<\/p>\n

BofA Global Research analyst Wamsi Mohan also expressed some caution as he wrote of his expectations for a slight deceleration in September-quarter constant-currency revenue relative to what was seen in the June quarter. <\/p>\n

\u201cHowever, in our opinion, [revenue and earnings estimates], which declined earlier
this year, have likely bottomed out, and we do not expect further major negative
revisions barring a major recession,\u201d he wrote. <\/p>\n

Wamsi has a neutral rating on Apple shares, reflecting that the positive catalyst of a new product launch could be offset by sluggish trends in consumer spending. <\/p>\n

Apple shares had clawed into positive territory in afternoon trading and were on track to snap a six-session losing streak, their longest since the period that ended Jan. 27, 2022.<\/p>\n

Don\u2019t miss: <\/strong>Chinese tax authorities recently searched Apple supplier Foxconn<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple Inc. faces \u201cominous headwinds\u201d going into its next earnings report, an analyst warned Monday. \u201cIn our view, the combination of a…<\/p>\n","protected":false},"author":1,"featured_media":4927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-4926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"\nApple faces \u2018ominous\u2019 setup heading into earnings, analyst warns | inFundPros<\/title>\n<meta name=\"description\" content=\"Apple Inc. faces \u201cominous headwinds\u201d going into its next earnings report, an analyst warned Monday. \u201cIn our view, the combination of a downtrodden economy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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