{"id":8611,"date":"2023-11-02T12:08:56","date_gmt":"2023-11-02T12:08:56","guid":{"rendered":"https:\/\/infundpros.com\/investment\/apple-earnings-are-on-deck-and-wall-street-isnt-feeling-so-cheery\/"},"modified":"2023-11-02T12:08:57","modified_gmt":"2023-11-02T12:08:57","slug":"apple-earnings-are-on-deck-and-wall-street-isnt-feeling-so-cheery","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=8611","title":{"rendered":"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery"},"content":{"rendered":"
\n

How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. <\/p>\n

Apple Inc.\u2019s
\n AAPL,
\n +1.87%<\/bg-quote>
\n September-quarter results, due out Thursday afternoon, should offer an early glimpse of the iPhone 15\u2019s performance, as the period included just over a week\u2019s worth of sales of the consumer-electronics giant\u2019s new lineup. Management\u2019s commentary on the earnings call will tell even more of the story. <\/p>\n

\n

Analysts aren\u2019t so upbeat heading into the report.<\/p>\n

\u201cDespite slight outperformance over the last month, we still lean tactically
cautious into earnings on Thursday,\u201d Morgan Stanley Erik Woodring wrote in a note to clients earlier this week ahead of the fiscal fourth-quarter report.<\/p>\n

Woodring is worried about \u201cuneven consumer spending\u201d and supply constraints, two factors that could lead Apple to imply a holiday-quarter revenue range below the consensus view and below what\u2019s seen normally around this time of year.<\/p>\n

See also:<\/strong> Apple faces \u2018ominous\u2019 setup heading into earnings, analyst warns<\/p>\n

The company also faces concerns around its China business, with Piper Sandler analyst Harsh Kumar flagging tough comparisons in the region as well as heightened local competition and sluggish macroeconomic conditions. <\/p>\n

\u201cOverall, while India will provide some recourse versus declining China sales, we don\u2019t think it will be enough to offset global and China weakness,\u201d Kumar wrote, while lowering his overall December-quarter revenue estimate to $120.9 billion, below the $123.1 billion FactSet consensus. <\/p>\n

As it stands, analysts expect Apple to hit an unceremonious milestone in the September quarter, as consensus projections call for a fourth consecutive quarter of revenue declines, to $89.3 billion. That would mark the first time since 2001 that Apple saw year-over-year sales fall for four quarters in a row. <\/p>\n

Even Kumar\u2019s below-consensus estimate for the December quarter implies the company would snap its streak come the holidays, however, as Apple recorded $117.2 billion on the top line a year before.<\/p>\n

Evercore ISI\u2019s Amit Daryanani sees the September-quarter consensus revenue target as feasible for Apple, though he contends \u201cthe bar is a little higher\u201d when looking to the December quarter, as estimates imply 5.5% growth. <\/p>\n

\u201cNonetheless, we think this should be achievable given weak [comparisons], strong services, and some modest iPhone ASP uplift,\u201d he wrote, referring to average selling prices. Apple eliminated the cheapest storage configuration for its iPhone 15 Pro Max device, effectively raising the starting price for that model in a likely benefit to pricing trends. <\/p>\n

Read: <\/strong>Is Apple\u2019s iPhone 15 pricing strategy a risky bet or right for this economy?<\/p>\n

While iPhones rule the show, analysts will also be watching for iPad and Mac dynamics, which won\u2019t necessarily be pretty.<\/p>\n

\u201cMac and iPad will likely continue to see large declines, but this looks adequately accounted for in numbers with consensus at down 15%-25%,\u201d Daryanani wrote. <\/p>\n

Those polled by FactSet are looking for $6.2 billion in iPad revenue for the September quarter, down from $7.2 billion a year before, along with $8.5 billion in Mac revenue, below the $11.5 billion sum the company posted a year earlier. <\/p>\n

Apple shares have declined 11% over the past three months, as the Dow Jones Industrial Average
\n DJIA,<\/span>
\n which counts Apple as a component, has shed about 7%.<\/p>\n<\/p><\/div>\n<\/div>\n

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

How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter…<\/p>\n","protected":false},"author":1,"featured_media":8612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24],"tags":[],"class_list":{"0":"post-8611","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investment"},"yoast_head":"\nApple earnings are on deck, and Wall Street isn\u2019t feeling so cheery | inFundPros<\/title>\n<meta name=\"description\" content=\"How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter results, due out\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=8611\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery | inFundPros\" \/>\n<meta property=\"og:description\" content=\"How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter results, due out\" \/>\n<meta property=\"og:url\" content=\"https:\/\/infundpros.com\/?p=8611\" \/>\n<meta property=\"og:site_name\" content=\"inFundPros\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-02T12:08:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-02T12:08:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1698926936_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Press Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Press Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/infundpros.com\/?p=8611#article\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/?p=8611\"},\"author\":{\"name\":\"Press Room\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\"},\"headline\":\"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery\",\"datePublished\":\"2023-11-02T12:08:56+00:00\",\"dateModified\":\"2023-11-02T12:08:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/infundpros.com\/?p=8611\"},\"wordCount\":538,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"articleSection\":[\"Investment\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/infundpros.com\/?p=8611#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/infundpros.com\/?p=8611\",\"url\":\"https:\/\/infundpros.com\/?p=8611\",\"name\":\"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery | inFundPros\",\"isPartOf\":{\"@id\":\"https:\/\/infundpros.com\/#website\"},\"datePublished\":\"2023-11-02T12:08:56+00:00\",\"dateModified\":\"2023-11-02T12:08:57+00:00\",\"description\":\"How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter results, due out\",\"breadcrumb\":{\"@id\":\"https:\/\/infundpros.com\/?p=8611#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/infundpros.com\/?p=8611\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/infundpros.com\/?p=8611#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/infundpros.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/infundpros.com\/#website\",\"url\":\"https:\/\/infundpros.com\/\",\"name\":\"Fintech Advance\",\"description\":\"Latest Finance and Tech News and Updates\",\"publisher\":{\"@id\":\"https:\/\/infundpros.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/infundpros.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/infundpros.com\/#organization\",\"name\":\"Fintech Advance\",\"url\":\"https:\/\/infundpros.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png\",\"width\":409,\"height\":70,\"caption\":\"Fintech Advance\"},\"image\":{\"@id\":\"https:\/\/infundpros.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff\",\"name\":\"Press Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/infundpros.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"contentUrl\":\"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png\",\"caption\":\"Press Room\"},\"sameAs\":[\"https:\/\/infundpros.com\"],\"url\":\"https:\/\/infundpros.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery | inFundPros","description":"How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter results, due out","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/infundpros.com\/?p=8611","og_locale":"en_US","og_type":"article","og_title":"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery | inFundPros","og_description":"How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter results, due out","og_url":"https:\/\/infundpros.com\/?p=8611","og_site_name":"inFundPros","article_published_time":"2023-11-02T12:08:56+00:00","article_modified_time":"2023-11-02T12:08:57+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/11\/1698926936_social.jpeg","type":"image\/jpeg"}],"author":"Press Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Press Room","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/infundpros.com\/?p=8611#article","isPartOf":{"@id":"https:\/\/infundpros.com\/?p=8611"},"author":{"name":"Press Room","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff"},"headline":"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery","datePublished":"2023-11-02T12:08:56+00:00","dateModified":"2023-11-02T12:08:57+00:00","mainEntityOfPage":{"@id":"https:\/\/infundpros.com\/?p=8611"},"wordCount":538,"commentCount":0,"publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"articleSection":["Investment"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/infundpros.com\/?p=8611#respond"]}]},{"@type":"WebPage","@id":"https:\/\/infundpros.com\/?p=8611","url":"https:\/\/infundpros.com\/?p=8611","name":"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery | inFundPros","isPartOf":{"@id":"https:\/\/infundpros.com\/#website"},"datePublished":"2023-11-02T12:08:56+00:00","dateModified":"2023-11-02T12:08:57+00:00","description":"How is the iPhone 15 doing in a choppy economic environment? Investors are about to find out. Apple Inc.\u2019s AAPL, +1.87% September-quarter results, due out","breadcrumb":{"@id":"https:\/\/infundpros.com\/?p=8611#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/infundpros.com\/?p=8611"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/infundpros.com\/?p=8611#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/infundpros.com\/"},{"@type":"ListItem","position":2,"name":"Apple earnings are on deck, and Wall Street isn\u2019t feeling so cheery"}]},{"@type":"WebSite","@id":"https:\/\/infundpros.com\/#website","url":"https:\/\/infundpros.com\/","name":"Fintech Advance","description":"Latest Finance and Tech News and Updates","publisher":{"@id":"https:\/\/infundpros.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/infundpros.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/infundpros.com\/#organization","name":"Fintech Advance","url":"https:\/\/infundpros.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/tech-logo.png","width":409,"height":70,"caption":"Fintech Advance"},"image":{"@id":"https:\/\/infundpros.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/infundpros.com\/#\/schema\/person\/87f7e632b195ea95c91503d9281f5eff","name":"Press Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/infundpros.com\/#\/schema\/person\/image\/","url":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","contentUrl":"https:\/\/infundpros.com\/wp-content\/uploads\/2023\/10\/avatar_user_1_1697230663-96x96.png","caption":"Press Room"},"sameAs":["https:\/\/infundpros.com"],"url":"https:\/\/infundpros.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8611"}],"version-history":[{"count":1,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8611\/revisions"}],"predecessor-version":[{"id":8613,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/posts\/8611\/revisions\/8613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=\/wp\/v2\/media\/8612"}],"wp:attachment":[{"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infundpros.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}