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$AAPL - Regardless of the earnings I'm expecting an intermediate term top at the 200 day MA Around 159
By: CyclesFan | July 28, 2022
• $AAPL - Earnings after the close today. Regardless of the earnings I'm expecting an intermediate term top at the 200 day MA Around 159. That top may be retested in late August as the market isn't ready to start it's next leg down of the bear market yet.
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Apple (AAPL) First bullish MACD cross on the weekly since November 2021
By: TrendSpider | July 27, 2022
• $AAPL First bullish MACD cross on the weekly since November 2021 A close above this trendline could really seal the deal!
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Is a Surprise Coming for Apple (AAPL) This Earnings Season?
By: Zacks Equity Research | July 27, 2022
Investors are always looking for stocks that are poised to beat at earnings season and Apple Inc. (AAPL) may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Apple is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for AAPL in this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $1.15 per share for AAPL, compared to a broader Zacks Consensus Estimate of $1.14 per share. This suggests that analysts have very recently bumped up their estimates for AAPL, giving the stock a Zacks Earnings ESP of +1.32% heading into earnings season.
Apple Inc. Price and EPS Surprise
Why is this Important?
A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).
Given that AAPL has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Clearly, recent earnings estimate revisions suggest that good things are ahead for Apple, and that a beat might be in the cards for the upcoming report.
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Apple Earnings To Show Weaker Demand, But Stock Remains A Favorite Growth Play
By: Investing.com | July 27, 2022
• Reports Q3 2022 results on Thursday, July 28, after the market close
• Revenue Expectation: $82.59 billion; EPS: $1.16
• Apple may face slowing demand for its products as consumers brace for a tough time
When Apple Inc. (NASDAQ:AAPL) releases its latest quarterly earnings tomorrow, investors' primary focus will turn to the iPhone maker's ability to maintain growth momentum at a time when surging interest rates, a four-decade high inflation, and a threat of a recession are hurting consumer confidence.
The Cupertino, California-based Apple is a better play in an adverse economic backdrop mainly due to its wealthy and loyal consumer base—often seen as more resilient to macroeconomic headwinds. Still, the US's most valuable company can't claim to be completely immune from the economic headwinds.
Shares of Apple have weakened about 13% this year amid a broad market selloff. Still, this performance is much better than most of Apple's mega-cap counterparts, and the benchmark NASDAQ 100
AAPL Weekly Chart
Dwindling Demand
Taiwan Semiconductor Manufacturing (NYSE:TSM), Apple's leading supplier of processors, recently warned that demand for PCs, smartphones, and consumer electronics is weakening amid inflationary pressures and after the pandemic-driven boom. However, Apple is likely to be less affected because the high-end market, where it sells, has been more resilient.
The company's fiscal third quarter results are expected to show a deceleration in sales growth. Analysts predict revenue will climb by about 2% from a year earlier, the slowest pace since 2020. Compare that with the 36% jump that Apple saw in the third quarter of 2021 when the pandemic-induced demand was fueling sales.
Analysts also expect $1.16 in earnings per share, which would be a 10.7% decline annually. The company said in April that gross margin should also decline from 43.7% last quarter to between 42% and 43%.
China Disruptions
Slowing consumer demand isn't the only threat to this earnings report. During the past quarter, Apple also faced some COVID-related restrictions in China, a country with a massive assembly line and Apple's second-largest market.
In April, Apple warned it could lose between $4 billion and $8 billion in revenue from supply issues, including chip shortages and production snags.
These factors, including the weakening consumer demand and a strong US dollar, have led Morgan Stanley, Wells Fargo, and other banks to cut their stock price targets for Apple by about $10 a share.
Nonetheless, the majority of analysts surveyed by Investing.com still rate Apple stock a buy, implying a near 16.5% upside potential from current levels.
AAPL Consensus Estimates
Source: Investing.com
According to JPMorgan's analysts in a recent note:
"We believe the resilience of the earnings estimates in the backdrop of macro deterioration, including both inflation and adverse FX, will continue to drive investors to prefer Apple with strong cash generation and balance sheet that will allow it to offset any earnings dilution on account of the macro through buybacks."
In April, Apple's board authorized $90 billion in additional share buybacks and dividends.
With the strength of its balance sheet and a robust capital-return program, Apple also has a strong lineup of new products in the coming months that could keep recession-weary consumers lured and revenue rolling in.
These products include iPhone 14 models, a new Apple Watch SE, an updated HomePod, a new Apple TV, updated iPad Pro models with an M2 chip, the long-anticipated mixed-reality headset, and a larger, 15-inch MacBook Air.
Bottom Line
Apple earnings may feel the blow of a worsening economy and more cautious consumers. Despite this weakness, the company's stock remains one of the best names to own due to its strong cash-return plan and ability to bounce back quickly once the sailing gets smooth.
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Earnings Preview: Apple Inc. (NASDAQ: AAPL)
By: 24/7 Wall St. | July 27, 2022
• Here’s a look at four companies set to report results after markets close Thursday afternoon.
Apple
The largest U.S.-listed company by market cap, Apple Inc. (NASDAQ: AAPL), has added just 1.75% to its share price over the past 12 months. For the year to date, the share price is down by about 14.6%. It’s an unusual year for Apple, and the company is reducing spending and cutting its hiring pace. The company has already said that revenue will be down by $4 billion to $8 billion because of supply-chain and COVID issues in China. The consensus 12-month EPS estimate has dropped by around 3% since Apple reported fiscal second-quarter earnings in April.
Of 44 analysts covering Apple, 33 give the stock a Buy or Strong Buy rating, and another nine rate the shares a Hold. At a current price of around $151.60, the upside potential based on a median price target of $181.50 is about 19.8%. At the high price target of $214.00, the upside potential is more than 41.2%.
Analysts expect the Dow 30 component to report 2022 fiscal third-quarter revenue of $82.97 billion, down 14.7% sequentially and up 1.9% year over year. Adjusted EPS is expected to come in at $1.15, down 24% sequentially and off 11.5% year over year. For the 2022 fiscal year ending in September, analysts expect the company to report EPS of $6.13, up 9.3%, on sales of $393.55 billion, an increase of about 7.6%.
Apple stock trades at a multiple of 24.7 times expected 2022 EPS, 23.3 times estimated 2023 earnings of $6.50, and 22.3 times estimated 2024 earnings of $6.80 per share. The stock’s 52-week range is $129.04 to $182.94. Apple pays an annual dividend of $0.88 (yield of 0.61%). Total shareholder return for the past 12 months was 2.33%.
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Examining Apple profitability ahead of their earnings this Thursday
By: Markets & Mayhem | July 27, 2022
• Examining $AAPL profitability ahead of their earnings this Thursday.
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Apple (AAPL) Appeared to Outperform Peers in Q3 - Rosenblatt
By: Investing.com | July 26, 2022
A Rosenblatt Securities analyst told investors in a note on Tuesday that Apple (NASDAQ:AAPL) likely outperformed its peers in the third quarter.
The analyst currently has a Neutral rating and a $168 per share price target on the stock. He explained in the note that their checks of industry data ahead of Apple's third-quarter earnings report aftermarket Thursday, show a company out-performing peers and boding well in a difficult environment, suggesting the firm's slightly above FactSet consensus estimates are beatable.
"Apple's big moves during the quarter in sports (striking a deal to be the lead broadcaster of Major League Soccer, and reportedly in the lead to pick up Sunday NFL Ticket) seem brand-driven and disruptive, raising questions of how the economics work, which perhaps suggests confidence in Cupertino," wrote the analyst.
Apple has been moving into the live sports streaming market with deals in place with the MLS and MLB.
Speaking on demand for Apple products in China, which continues to be impacted by Covid-related lockdowns, the analyst said they had concerns that never-ending zero Covid would disrupt demand in China and also present production challenges.
However, "monthly unit shipment data from the China Academy of Information and Communications Technology shows international mobile phone units (mainly Apple) rebounding in the June quarter, rising 24% Y/Y, versus a 24% decline for local brands."
There hasn't always been a great correlation historically between Apple's China revenues and this shipment data. But it's still a supportive backdrop," added the analyst.
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JPMorgan Chase & Co. Analysts Give Apple (AAPL) a $200.00 Price Target
By: MarketBeat | July 25, 2022
• Apple (NASDAQ:AAPL - Get Rating) has been assigned a $200.00 price target by stock analysts at JPMorgan Chase & Co. in a research note issued on Monday, Borsen Zeitung reports. JPMorgan Chase & Co.'s price objective indicates a potential upside of 30.63% from the stock's current price...
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Apple (AAPL) No buyback expected, typically this is one of their seasonality weaker reports ahead of a new Phone release in October
By: Options Mike | July 24, 2022
• $AAPL has been very strong. No buyback expected, typically this is one of their seasonality weaker reports ahead of a new Phone release in October.
Will the guide? Car?
200D huge spot.
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Apple's rebound out of the June low is coming to an end next week
By: CyclesFan | July 23, 2022
• $AAPL's rebound out of the June low is coming to an end next week. The target is the 40 week MA at 159. After that it should start the decline to the 200 week MA, though it's probably going to start slowly with the rest of the market not expected to top until late August.
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Apple has averaged a +7% return in BOTH July & August over the past decade, making it the strongest time of the year for the giant
By: TrendSpider | July 23, 2022
• $AAPL Apple has averaged a +7% return in BOTH July & August over the past decade, making it the strongest time of the year for the giant.
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Will Apple (AAPL) Stock Boost the Market or Sink It Again?
By: TheStreet | July 19, 2022
The stock market opened higher and rallied on Monday, but it lost momentum in the afternoon. While Apple (AAPL) is usually helping the market’s cause, it sabotaged it yesterday.
In midday trading Monday, a report surfaced that Apple would slow its hiring and spending in some of its teams next year.
The fact that the S&P 500 and Nasdaq reversed lower and shifted into a selling mentality for the rest of the day shows just how fragile the market is right now.
Apple’s spending and hiring plans aren’t necessarily a big deal. But if the reports pan out, it’s the latest company — particularly in mega-cap tech — to pull in the reins when it comes to spending.
Apple would join Alphabet (GOOGL) (GOOGL) and Meta (META) in the companies’ more conservative view when it comes to the economy's short-term standing. Netflix (NFLX) is tightening its spending, too, and we’ll find out more tonight when it reports earnings.
If a majority of FAANG feels this way, it’s reasonable that investors should as well. Hence yesterday’s pullback.
With stocks again rallying on Tuesday, though, the bulls are wondering whether Apple stock can help lead the charge higher or if it will once again act as an anchor.
Trading Apple Stock
Daily chart of Apple stock.
Chart courtesy of TrendSpider.com
While we’ll hear from Netflix tonight, we won’t hear from Apple until July 28.
In the first quarter, Apple stock dipped down to $150, made a low and bounced hard. A few months later in May, it knifed through this level and the figure became resistance in June.
Now Apple is trying to push through the $150 level and the June high at $151.74. That’s the area that rejected the stock yesterday, even though a news item was what accelerated the selling pressure.
For now, the 10-day and 10-week moving averages are acting as support this week. If that remains the case, then the $150 to $152 area remains in play.
If Apple can clear this resistance zone, it will open the door to the 21-week moving average and 50% retracement near $154. Above that and the 200-day moving average and 61.8% retracement near $160 are in play.
On the downside, a break of the 10-day and 10-week moving averages puts the $142 to $143 area in play. Below that and $137 is in play, followed by a small gap-fill at $133.
For now, the bottom line is pretty simple: Apple is again struggling with resistance but is so far putting in an inside day. In other words, both support and resistance are still in play and we must wait to see which one breaks next.
On the upside, $150 to $152 is the area to watch, while $146 to $146.50 is the zone to watch on the downside.
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