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Apple Chart Suggests Investors Aren't 'Buying The Fear': iPhone, AI Expectations In Focus For Q2
Apple Inc (NASDAQ:AAPL) is set to report second-quarter earnings on Thursday after market hours.
Wall Street expects $1.40 in earnings per share (EPS), and $84.12 billion in revenue. That’s down from the $1.52 in EPS and $94.84 billion in revenue, reported for the same quarter, last year.
Despite recent challenges, Apple’s strong track record of beating earnings expectations could offer some optimism for investors.
Also Read: Wall Street Braces For Brutal Apple Earnings, But Top Analyst Gives 6 Reasons To Stay Bullish On iPhone Maker
Analyst Suggests ‘Buying The Fear’
Apple stock is down 11.53% year-to-date, weighed down by a weak iPhone 15 cycle.
Bernstein analyst Toni Sacconaghi suggests “buying the fear” in Apple stock, anticipating a strong iPhone 16 cycle.
Analysts await updates on iPhone sales, services revenue, and capital return plans from Apple’s Q2 report. For the next few quarters, also under watch would be Apple Vision Pro headset sales and potential AI advancements.
Let’s look at what the charts indicate for Apple stock, and how the stock currently maps against Wall Street estimates.
Apple Stock’s Bearish Setup Ahead Of Q2 Earnings
Charts indicate that the current trend ...