Understanding Apple's Q3 2024 Financial Results: Earnings Insights and Analysis
Sep 5 09:45Apple's Key Indicators in Earnings Report of Q3 2024
In the latest earnings report released by Apple, the following financial data are worthy of attention.
Actual Value | Estimated Value | YoY Change | |
|---|---|---|---|
Revenue | US$85.777B | US$84.377B | +4.87% |
Net Profit | US$21.448B | - | +7.88% |
EPS | 1.400 | 1.341 | +11.11% |
Gross Margin | 46.26% | - | +3.91% |
Net Margin | 25.00% | - | +2.88% |
Apple Q3 2024 Earnings Call Transcript
Apple Q3 2024 Financial Performance
- Q2 2024 revenue was $90.8 billion, down 4% year-over-year.
- Net income for the quarter reached $23.6 billion, EPS at $1.53.
Apple Q3 2024 Business Progress
- Launched Apple Vision Pro with positive feedback from enterprise market.
- Announced upcoming product release and Worldwide Developers Conference.
Apple Q3 2024 Opportunity
- Record services revenue of $23.9 billion, with expansion in emerging markets.
- Plans to integrate generative AI across product lines, seeing significant opportunities.
Apple Q3 2024 Risk
- iPhone revenue down 10% year-over-year, indicating potential volatility in high-revenue lines.
- Uneven macroeconomic environment challenges consistent growth across regions.
Apple's Forecast By Third Party Analyst Rating of Q3 2024
- Third Party Analyst rating of Apple: Buy
- Apple Target Price: US$252.92
- Apple EPS Forecast: US$1.590
- Apple Revenue Forecast: US$94.144B
- Apple EBIT Forecast: US$29.129B
For more information on what the analyst ratings may mean, visit https://pro.benzinga.com/blog/what-do-stock-analyst-ratings-mean/ (Benzinga is not affiliated with Moomoo Technologies Inc., Moomoo Financial Inc., or its affiliates.)
Apple's Institutional Ownership & Shareholders of Q3 2024
Holder | Shares Held | Shares Held (%) | Change (Shares) | Change (%) |
|---|---|---|---|---|
| The Vanguard | 1,324,970,227 | 8.71% | 6,110,613 | +0.04% |
| BlackRock | 1,050,215,752 | 6.91% | 9,692,346 | +0.06% |
| State Street Global Advisors | 528,075,179 | 3.47% | -60,515,600 | -0.40% |
| Berkshire Hathaway Inc. | 400,000,000 | 2.63% | -389,368,450 | -2.56% |
| FMR | 316,205,453 | 2.08% | 54,856,124 | +0.36% |
| Geode Capital Management, LLC | 313,373,713 | 2.06% | 5,652,861 | +0.04% |
| T. Rowe Price Group, Inc. | 236,758,298 | 1.56% | 21,440,436 | +0.14% |
| Norges Bank Investment Management | 177,534,454 | 1.17% | 1,393,251 | +0.01% |
| Capital Research | 167,321,379 | 1.10% | 77,294,238 | +0.51% |
| Northern Trust Global Investments | 152,959,593 | 1.01% | -1,211,749 | -0.01% |
The institutional holding data indicates that Apple has garnered attention from several major institutions. For instance, increased holdings by The Vanguard and BlackRock suggest a positive outlook on Apple. Conversely, significant reductions in holdings by State Street Global Advisors and Berkshire Hathaway may signal concerns about the future performance of Apple. Overall, the changes in institutional holdings reflect varying market expectations for Apple, providing crucial signals for investors when constructing or adjusting their portfolios.
How to Buy Apple Stocks？
Step 1: Opening a Brokerage Account
To start trading stocks, the initial step is to acquire a brokerage account. When choosing an online stock brokerage, there are two critical factors to consider: brokerage offerings and a user-friendly platform. Moomoo app would be helpful.
Step 2: Deciding how many shares to buy
To gain initial experience, it's wise to paper trade using a stock market simulator. Alternatively, start with a small investment amount.
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To master stock buying, it's essential to understand three critical order types: market orders, limit orders, and stop orders.
Step 4: Placing the stock order with your brokerage
Where can I find when companies are scheduled to report their earnings?
On the earnings calendar of moomoo app, there is a list available for you to view the companies that are reporting earnings today.
Where can I find more information about Apple's earnings reports?
On the moomoo app, you can find financial data, earnings call summaries, analyst ratings, announcement AI summaries, etc. for each company.
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