Apple Inc.
Q2 In Line/Weak Management Guidance for Q3
Published: 11/29/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
![Q2 In Line/Weak Management Guidance for Q3 - Main Image](/_next/image?url=https%3A%2F%2Ffrc-backend.s3.ca-central-1.amazonaws.com%2Fpictures%2F0ae0d8c0-bfea-4b4a-9cdc-f67692c7c505-AppleReportImage.webp&w=1080&q=75)
Sector: Technology | Industry: Consumer Electronics
Ticker Symbols:
AAPL - NASDAQ 🔹
AAPL.NE - CNQ 🔹
Highlights
Q2-FY2023 (quarter ended March 2023) revenue and net income were down 3% YoY, but in line with our forecasts. Q1 revenue was down 6% YoY.
Stronger revenue from services (5% YoY) and iPhone sales (2% YoY) was more than offset by weaker sales of Mac (-31% YoY) and iPad (-13% YoY). Management expects Q3 sales to contract 3% YoY as well.