Apple Set To Beat Q3 Earnings Estimates With Strong Services Growth: Goldman Sachs
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 30 2024
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Source: Benzinga
Earnings Expectations: Goldman Sachs predicts that Apple Inc. will exceed analyst expectations for its third-quarter earnings, forecasting an EPS of $1.36 and revenue of $85.1 billion, a 4% increase from the previous year.
Market Risks: Despite maintaining a Buy rating on Apple due to growth in services and product innovation, Goldman Sachs highlights potential risks such as weakening consumer demand, supply chain disruptions, and intense competition in various sectors like video streaming.
Analyst Views on AAPX
Wall Street analysts forecast AAPX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AAPX is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
