Here’s what analysts expect from Apple’s earnings report on Thursday | Technology

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Analysts expect Apple to report fiscal Q224 earnings per share (EPS) of $1.50 on revenue of $90.3 billion, a 4.75% year-over-year revenue decline, according to estimates compiled by Bloomberg News.

Daniel Howley for Yahoo Finance:

“The anticipated pullback in iPhone shipments follows back-to-back quarters of revenue declines out of Greater China, one of Apple’s most important sales regions. For Q2, revenue is set to drop 28% year-over-year.

Shares of Apple are off some 5% year to date and roughly flat over the last 12 months. Shares of Big Tech rivals like Microsoft and Google, meanwhile, are up 25% and 37% over the last year, respectively.

Apple’s iPhone revenue is anticipated to drop some 10.8% to $45.75 billion in the quarter, while iPad revenue is set to fall 11%. Analysts also anticipate both Mac and Wearables to decline 5% year-over-year.

“At this point, expectations are pretty darn low,” Dan Niles, founder of Niles Investment Management told Yahoo Finance Live.

“Competition from China isn’t going away, they’re late to AI, and unfortunately, you’re paying a pretty high PE multiple at 25 times for a company whose March quarter revenues they…”

Source macdailynews.com

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