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Apple Q2 Earnings Preview: Analyst Sees 'Turning Point In Sentiment,' Catalysts Ahead In Second Half Of 2024 For Tech Giant
Technology giant Apple Inc (NASDAQ:AAPL) is set to report second-quarter financial results after market close on May 2, 2024, with investors and analysts ready to hear more about several catalysts, including question marks over demand in China.
A leading analyst previewed the second quarter earnings with several catalysts that could lead to a strong second half of fiscal 2024.
The Apple Analyst: Goldman Sachs analyst Michael Ng had a Buy rating on Apple and lowered the price target from $232 to $226.
Related Link: Apple Q1 Earnings Beat Estimates As Cupertino Snaps 4-Quarter Revenue Decline Streak; Stock Slides On China Weakness
The Analyst Takeaways: Second-quarter iPhone revenue could decline 11% year-over-year to $45.9 billion, according to estimates from the analyst.
"The overall industry environment for smartphones and PCS is improving, which should be supportive for AAPL product sales in C2024/25 (calendar years 2024, 2025)," Ng ...