{"id":61129,"date":"2024-07-23T13:45:02","date_gmt":"2024-07-23T13:45:02","guid":{"rendered":"https:\/\/efimarkets.com\/blog\/?p=61129"},"modified":"2024-07-23T13:49:17","modified_gmt":"2024-07-23T13:49:17","slug":"apples-stock-is-up-30-since-the-second-quarter","status":"publish","type":"post","link":"https:\/\/bhimmarkets.com\/blog\/apples-stock-is-up-30-since-the-second-quarter\/","title":{"rendered":"Apple&#8217;s stock is up 30% since the second quarter"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"61129\" class=\"elementor elementor-61129\">\n\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-13bb272 e-con-boxed e-flex e-con\" data-id=\"13bb272\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-af79237 elementor-widget elementor-widget-image\" data-id=\"af79237\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/www.investing.com\/\">\n\t\t\t\t\t\t\t<img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"538\" src=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/07\/overview__bcphzsdb4fpu_og-1024x538.png\" class=\"attachment-large size-large wp-image-61132\" alt=\"Apple&#039;s stock is up\" srcset=\"https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/07\/overview__bcphzsdb4fpu_og-1024x538.png 1024w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/07\/overview__bcphzsdb4fpu_og-300x158.png 300w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/07\/overview__bcphzsdb4fpu_og-768x403.png 768w, https:\/\/bhimmarkets.com\/blog\/wp-content\/uploads\/2024\/07\/overview__bcphzsdb4fpu_og.png 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-64b53de e-con-boxed e-flex e-con\" data-id=\"64b53de\" data-element_type=\"container\" data-settings=\"{&quot;content_width&quot;:&quot;boxed&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-131f90f elementor-widget elementor-widget-text-editor\" data-id=\"131f90f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.13.0 - 24-04-2023 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><span style=\"color: #000000;\"><a href=\"https:\/\/in.tradingview.com\/symbols\/NASDAQ-AAPL\/\">Apple&#8217;s stock<\/a> is up 30% since the second quarter, with all eyes now on the tech giant\u2019s upcoming earnings report scheduled for August 1.<\/span><\/p><h3><span style=\"color: #000000;\">Apple&#8217;s stock is up<\/span><\/h3><p><span style=\"color: #000000;\">Bernstein analysts expect Apple Inc (NASDAQ) Q3 earnings to align closely with consensus estimates. They project revenues of $83.7 billion, a 2.3% year-over-year increase, compared to the consensus estimate of $84.3 billion.<\/span><\/p><h3><span style=\"color: #000000;\">Revenue Growth Drivers<\/span><\/h3><p><span style=\"color: #000000;\">The anticipated revenue growth is supported by:<\/span><\/p><ul><li><span style=\"color: #000000;\">Improving iPhone sales in China<\/span><\/li><li><span style=\"color: #000000;\">Strong performance in the iPad and Mac segments<\/span><\/li><\/ul><h3><span style=\"color: #000000;\">Modest Revenue Upside<\/span><\/h3><p><span style=\"color: #000000;\">\u201cThat said, we do not expect material revenue upside in the quarter,\u201d the investment firm\u2019s analysts added.<\/span><\/p><h3><span style=\"color: #000000;\">Q4 Projections and Investor Sentiment<\/span><\/h3><p><span style=\"color: #000000;\">Looking ahead to Q4, the consensus models higher-than-seasonal growth, which Bernstein views as aggressive. They predict that Apple might guide lower on revenue for Q4, estimating $89.3 billion compared to the consensus of $92.3 billion. However, they believe this guidance might not heavily impact investor sentiment, as attention is shifting toward the iPhone 16 and FY 2025.<\/span><\/p><h3><span style=\"color: #000000;\">Future Upgrade Cycles<\/span><\/h3><p><span style=\"color: #000000;\">\u201cA key question is whether an upgrade cycle could get pushed out beyond FY 25,\u201d Bernstein analysts continued. They expect AI functionality to lead to a strong upgrade cycle and believe that spreading AI tailwinds between the iPhone 16 and 17 cycles might benefit the stock.<\/span><\/p><h3><span style=\"color: #000000;\">Key Areas to Watch in Upcoming Earnings<\/span><\/h3><h4><span style=\"color: #000000;\">Services Unit Growth<\/span><\/h4><p><span style=\"color: #000000;\">Analysts highlighted the growth in the company\u2019s Services unit, which has outgrown the rest of Apple&#8217;s business. They project Services revenue growth for Q3 at 13% and 12% for the year, supported by:<\/span><\/p><ul><li><span style=\"color: #000000;\">Strong growth in iCloud<\/span><\/li><li><span style=\"color: #000000;\">Licensing<\/span><\/li><li><span style=\"color: #000000;\">The App Store<\/span><\/li><\/ul><h4><span style=\"color: #000000;\">Health of China Business<\/span><\/h4><p><span style=\"color: #000000;\">The health of Apple&#8217;s China business remains a concern despite stronger iPhone volumes in May. There are doubts about the accuracy of third-party data and the sustainability of this strength, given that it partly resulted from discounting.<\/span><\/p><h3><span style=\"color: #000000;\">Product Gross Margins and Future Pressures<\/span><\/h3><p><span style=\"color: #000000;\">Apple\u2019s product gross margins have improved significantly, driven by factors such as a higher iPhone mix and lower depreciation expenses. However, Bernstein analysts caution that rising memory prices and price concessions on iPhones could pressure margins in the future.<\/span><\/p><h4><span style=\"color: #000000;\">Gross Margin Forces<\/span><\/h4><p><span style=\"color: #000000;\">\u201cWhile the impact might not be felt until the iPhone 16 cycle, we believe investors should closely monitor commentary around the gross margin forces at work. We forecast Q4 gross margins to decline sequentially from 46.3% to 46.1%,\u201d analysts wrote.<\/span><\/p><h3><span style=\"color: #000000;\">R&amp;D and Capex Spending Plans<\/span><\/h3><p><span style=\"color: #000000;\">Changes to R&amp;D and capex spending plans, particularly related to the build-out of private cloud compute, and broader commentary on Apple Intelligence will also be closely scrutinized.<\/span><\/p><h3><span style=\"color: #000000;\">Bernstein&#8217;s Outlook<\/span><\/h3><p><span style=\"color: #000000;\">Bernstein has reiterated an Outperform rating on AAPL stock ahead of its Q3 report, with a price target of $240.<\/span><\/p><p><span style=\"color: #000000;\">\u201cWe believe recent enthusiasm is likely to persist in the near term, as Apple is increasingly seen as an AI leader rather than a laggard, and the stock is also in its seasonally strong trading period,\u201d the firm\u2019s team explained.<\/span><\/p><h5>Trade while moving. Anytime,\u00a0Anywhere<\/h5><p><span style=\"color: #000000;\">EFI Markets is a<\/span>\u00a0<a href=\"https:\/\/efimarkets.com\/\">most trusted trading platform<\/a>\u00a0<span style=\"color: #000000;\">that simplifies trading through its efficient platform and a range of tools and features.<\/span><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Apple&#8217;s stock is up 30% since the second quarter, with all eyes now on the tech giant\u2019s upcoming earnings report scheduled for August 1. Apple&#8217;s stock is up Bernstein analysts expect Apple Inc (NASDAQ) Q3 earnings to align closely with consensus estimates. They project revenues of $83.7 billion, a 2.3% year-over-year increase, compared to the &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/bhimmarkets.com\/blog\/apples-stock-is-up-30-since-the-second-quarter\/\"> <span class=\"screen-reader-text\">Apple&#8217;s stock is up 30% since the second quarter<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":61132,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","footnotes":""},"categories":[12],"tags":[15,14,43],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Apple&#039;s stock is up 30%<\/title>\n<meta name=\"description\" content=\"Apple&#039;s stock is up 30% since Q2, showcasing strong growth and investor confidence. 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