Apple Inc, the world’s most valuable company reports quarterly figures tomorrow amidst an earnings season that has seen stellar results across big tech. Indeed, Apple itself closed at an all-time high yesterday perhaps in anticipation of following this impressive sector trend. Equally, if not more anticipated than tomorrow’s earnings will be Friday’s release of their new flagship product, the $1000 iPhone X, with which Apple are looking to redefine the consumer smartphone industry once again. The share price of such a product driven company will inevitably be affected by demand for this latest phone. Mooted weaker than expected demand for the iPhone 8 models gave investors the opportunity to buy shares below $150 where the price quickly recovered, reinforcing tentative support at $155 before pushing on to all-time highs. Consensus EPS forecast of $1.87 comes against $1.67 for the same quarter last year for a company that has outperformed analysts’ expectations on this metric for the past four quarters. The question investors must ask is this: will the next two days’ events be the final step before we see the first $1trillion company, or have apple pushed the consumer too far with their latest product’s price point and will we see Apple lose its lustre, and possibly its place as the world’s most valuable company?
The views and content expressed above are the views of the author and do not reflect the views of ayondo markets. This service is for information only and should not be interpreted as investment advice or any recommendation to enter into a financial transaction.