Goldman Sachs expects Apple Inc. (NASDAQ:AAPL) to beat analyst expectations when it reports third-quarter earnings after Thursday's closing bell.
The tech giant should exceed Wall Street consensus of $1.33 earnings per share (EPS) by 3 cents on Thursday, according to Goldman Sachs analyst Michael Ng. He predicted revenue for the quarter to come in at $85.1 billion, up 4% from $81.8 billion in revenue posted a year ago.
"While Apple's iPad market share has lagged in recent quarters relative to history, we expect the recently announced new iPad models (May 7) should benefit market share in F3Q24," he wrote in a note.
"The new iPad models represented the first new iPads since October 2022."
Goldman Sachs maintains a Buy rating on Apple because it believes the company's focus on slower product revenue growth does not reflect its growth in services and product innovation, Ng said.
Read Also: Apple Shares Are Surging Friday: What You Need To Know
"The majority of gross profit growth over the next five years should be driven by services, which should mark an inflection point in the services investment narrative," he wrote.
"The durability of Apple's installed base and the resulting revenue growth visibility from attaching more services and products is what underpins the recurring revenue — or Apple-as-a-Service — opportunity."
But Apple is exposed to downside risks such as weakening consumer demand for products and services, supply chain disruption and growing competition, Ng said.
"Although Apple is the largest company and the most well resourced among its competitors, it is not the market leader in every single business line," he wrote. "For instance, in video streaming, it faces several key competitors that invest more heavily than Apple in content."
Price Action: Apple was down 0.3% to $217.54 at the time of publication Tuesday.
The decline in Apple shares also impacted related ETFs:
- T-Rex 2X Long Apple Daily Target ETF (BATS:AAPX) slipped 1.51%.
- Direxion Daily AAPL Bull 2X Shares (NASADQ: AAPU) fell 1.94%
- Fidelity MSCI Information Technology Index ETF (NYSE:FTEC) declined 1.51%.
- Vanguard Information Technology ETF (NYSE:VGT) dropped 2.59%
- IShares U.S. Technology ETF (NYSE:IYW) lost 2.62%
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Photo: Shutterstock
高盛預計，蘋果公司（納斯達克股票代碼：AAPL）在週四收盤後公佈第三季度業績時將超出分析師的預期。
高盛分析師邁克爾·吳表示，週四，這家科技巨頭的每股收益（EPS）將比華爾街共識的1.33美元高出3美分。他預計該季度的收入將達到851億美元，較去年同期公佈的818億美元收入增長4％。
他在一份報告中寫道：“儘管蘋果的iPad市場份額在最近幾個季度相對於歷史有所落後，但我們預計最近發佈的新款iPad機型（5月7日）將有利於 F3Q24 的市場份額。”
“新的iPad機型代表了自2022年10月以來的首批新iPad。”
吳說，高盛維持對蘋果的買入評級，因爲它認爲該公司對產品收入增長放緩的關注並不能反映其在服務和產品創新方面的增長。
另請閱讀：週五蘋果股價飆升：你需要知道的
他寫道：“未來五年的大部分毛利增長應由服務業驅動，這應該標誌着服務業投資的轉折點。”
“Apple 用戶群的耐久性以及附加更多服務和產品所帶來的收入增長可見度是經常性收入（即 Apple 即服務）機會的基礎。”
吳說，但蘋果面臨下行風險，例如消費者對產品和服務的需求減弱、供應鏈中斷和競爭加劇。
他寫道：“儘管蘋果是最大的公司，也是競爭對手中資源最充足的公司，但它並不是每個業務領域的市場領導者。”“例如，在視頻流媒體方面，它面臨着幾個主要競爭對手，這些競爭對手在內容方面的投資超過了蘋果。”
價格走勢：蘋果在週二發佈時下跌0.3％，至217.54美元。
蘋果股價的下跌也影響了相關的ETF：
- T-rex 2X多頭蘋果每日目標ETF（BATS: AAPX）下跌1.51％。
- Direxion Daily AAPL Bull 2X 股票（納斯達克股票代碼：AAPU）下跌 1.94%
- 富達摩根士丹利資本國際信息技術指數ETF（紐約證券交易所代碼：FTEC）下跌1.51％。
- Vanguard信息技術ETF（紐約證券交易所代碼：VGT）下跌2.59％
- iShares美國科技ETF（紐約證券交易所代碼：IYW）下跌2.62％
立即閱讀：
- 美銀分析師：蘋果應用商店收入激增和iPhone升級將在2025年推動增長
照片：Shutterstock
