After the close today, investors will hear from Oracle (ORCL) as the company reports fiscal Q4 earnings. Analysts expect declining revenue for the second-straight quarter in a tough competitive environment. It might be worth listening to the conference call to get a sense of how executives see geopolitical events affecting business.
Apple is set to report its earnings results for the fourth quarter of its 2022 fiscal year today at 1:30 p.m. Pacific Time. Apple CEO Tim Cook and Apple CFO Luca Maestri will discuss the results on a conference call for investors at 2:00 p.m. Pacific Time.
All eyes on Apple’s earnings report later today; what to expect
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All eyes will be on Apple (AAPL (opens in new tab), $163.76) when the iPhone maker unveils its fiscal first-quarter earnings report after Thursday's close. The Wall Street pros, on average, are calling for earnings per share (EPS) of $1.88 (+11.9% YoY) and revenues of $118.4 billion, which would mark a 6.3% improvement over its year-ago results.
Earnings season has pressed on, with strong guidance boosting American Express shares by 10.5 per cent despite a top-and bottom-line miss. Some chip stocks rose even as Intelslumped more than 6 per cent on a dismal earnings report that missed expectations.
Investors brace for the busiest week of corporate earnings with most eyes on the tech sector with Microsoft and Alphabet starting the ball rolling on Tuesday. Meta (Facebook parent) follows on Wednesday, while Amazon and Apple's earnings report will arrive on Thursday.
Ongoing optimism about earnings reports keep the current slightly positive market sentiment alive. However, I am still more on the pessimistic side (in comparison to other analysts and investment banks) and expect economic data that shows that global economies cooled down stronger than expected as well as central banks reiterating their commitment to fight inflation at the expense of growth, remaining downside potential.
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