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Apple Inc AAPL shares are trading lower by 1.73% to $114.00, though off the session low of $146.76, ahead of the company’s fourth-quarter earnings report. Weakness in tech peers Meta and Alphabet following their recent earnings has possibly weighed on sentiment ahead of the report.
According to analyst consensus estimates, Apple is expected to revenue revenue of $88.74 billion on EPS of $1.26. The fourth quarter is the second- busiest season for Cupertino, as it encompasses the key back-to-school season.
What’s Happening?
Meta said third-quarter revenue decreased 4% year-over-year to $27.71 billion, which beat average analyst estimates of $27.53 billion, according to Benzinga Pro. The social media and metaverse company reported quarterly earnings of $1.64 per share, which missed average estimates of $1.91 per share.
Meta said daily active people for its family of products reached 2.93 billion in September, an increase of 4% year-over-year. Monthly active people for its family of products climbed to 3.71 billion last month, up 4% year-over-year…Read More
Meanwhile, Alphabet this week said third-quarter revenue increased 6% year-over-year to $69.09 billion, which missed average analyst estimates of $70.91 billion.
Alphabet’s Search division generated $39.54 billion, YouTube ads totaled $7.07 billion and the Google Network division added $7.87 billion within the Google Ad segment…Read More
Apple has a 52-week high of $182.94 and a 52-week low of $129.04.
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Image and article originally from www.benzinga.com. Read the original article here.