Wall Street On Blowout Apple Earnings This Week

 

Thursday October 29, 2020 is the expected day on which Apple will announce its quarterly earnings. The street predicts that Apple will report that its earnings to be 71 cents a share and its revenue to be 64.16 billion dollars. When last checked this Cupertino, California tech company shares were 0.7 percent higher at $ 115.88 per share.

 

Ahead of its earnings release, Wall Street says that they expect a solid quarter report (September 2020) from AAPL. They believe that investors will overlook recent weaknesses or strengths while focusing on the December quarter since the recent iPhone release as well as the impact on guidance and this will continue to the March quarter. This year there has been a delay in the release of new iPhones and related products by a month or more.

 

“Long term we continue to believe that AAPL is the best name to own in the IT hardware landscape, outweighing our worries regarding the large year-to-date rise and subsequent valuation expansion.” Jeriel Ong, Equity Research Analyst, Deutsche Bank Securities.

(NASDAQ: AAPL)  CWEB Analysts view the stock as a long term growth and a great addition to your investment portfolio with an upward momentum of  $1000 by 2021

Image by Matias Cruz from Pixabay

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