Apple Inc.
Q2 In Line/Weak Management Guidance for Q3
Published: 11/29/2023
Author: Sid Rajeev, B.Tech, CFA, MBA
Sector: Technology | Industry: Consumer Electronics
Ticker Symbols:
AAPL - NASDAQ 🔹
AAPL.NE - CNQ 🔹
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | US $125.25 |
| Fair Value | US $1925.35 |
| Risk | N/A |
| Week Range | US $ |
| Shares O/S (M) | N/A |
| Market Cap. (M) | US $ |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | N/A |
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.
Rating and Key Data
| Metrics | Value |
|---|---|
| Current Price | US $125.25 |
| Fair Value | US $1925.35 |
| Risk | N/A |
| Week Range | US $ |
| Shares O/S (M) | N/A |
| Market Cap. (M) | US $ |
| Current Yield (%) | N/A |
| P/E (forward) | N/A |
| P/B | N/A |
