Apple results set to impress amid record high US stock market
Apple (AAPL) reports Q419 earnings in Wednesday’s after-hours market. With US stocks at all-time highs, Apple sits valued at a lofty 19.2x forward earnings. The tech giant beat expectations in 8/8 prior quarters, averaging a 4.7% share price gain the day after reporting. The implied move for this forecast session is 4.1%.
"Apple Inc daily chart"
Analysts are expecting revenue of $62,96b, against $62.9b last year. Q4 iPhone shipments are eyed at 45m and demand for wearables holds strong.
Looking further ahead, guidance into Q1 2020 is strong: $86.43b revenue and $4.41 earnings per share (EPS). Services results (including the new Apple TV+, launching 1 November 2019) are expected to impress.
With a solid track record, low short interest, and impressive Q1 2020 expectations, how much higher can Apple track? Considering record-high US stock pricing, it might take a considerable beat to move the needle on earnings estimates this time. But as we’ve seen time and time again, if any company can do this, it’s Apple.
The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research we will not seek to take any advantage before providing it to our clients.
Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.