Apple to report Q4 earnings as Wall Street looks for signs of Apple Intelligence payoff

Published On Oct 31, 2024, 8:28 AM

Apple is set to report its fourth-quarter earnings, with expectations of higher earnings per share (EPS) of $1.59 on revenue of $94.3 billion, compared to $1.46 EPS on $89.4 billion revenue in the previous year. A key focus for Wall Street will be the performance of Apple's new Apple Intelligence platform, which is expected to drive iPhone sales, particularly as it's only available on the latest models. Analysts anticipate a modest increase in iPhone sales to $45 billion and a stronger growth in services. However, there are concerns regarding iPhone 16 sales after a reported cut in orders.

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Stock Forecasts

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Positive

Given the strong expectations for earnings and the introduction of the Apple Intelligence platform aimed at stimulating sales, there could be positive momentum for Apple stock in the near term. However, concerns about the declining iPhone 16 orders could temper this optimism, presenting a mixed outlook.

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