News about Apple

Apple reports decline in sales and profit with Q2 2024 results: $90.75 billion revenue and $23.6 billion profit Revenue breakdown: 📱 iPhone: $45.96 billion (10.46% drop) 💻 Mac: $7.45 billion (3.9% increase) 📱 iPad: $5.56 billion (16.64% drop) ⌚️ Wearables, Home, and… pic.twitter.com/Wq1cuyjS75

Apple sales declined less sharply than feared last quarter, helped by stronger-than-expected demand in China, sparking optimism that the company’s slowdown may be easing. www.bloomberg.com/news/articles/2024-05-02/apple-sales-decline-less-than-feared-as-company-plots-comeback?utm_medium=email&utm_source=newsletter&utm_term=240502&utm_campaign=author_19842959&sref=9hGJlFio

Noticing a sub-theme on this Apple earnings call from sell-side analysts, likely passing concerns that their clients have been hammering them on: Regulatory risk (i.e. Apple's revenue sustainability).

Apple reports 2Q24 earnings today (4:30 pm ET). My earnings preview was split between two Above Avalon Daily emails. Setting the stage: www.aboveavalon.com/notes/2024/5/1/setting-the-stage-for-apples-2q24-earnings-thoughts-on-apples-stock-price-underperformance My granular estimates: www.aboveavalon.com/notes/2024/5/2/my-2q24-apple-estimates-expectations-for-apples-3q24-guidance-my-updated-apple-earnings-model