From Nasdaq: 2024-06-20 09:04:49

Affirm Holdings (AFRM) continues to struggle in 2024, with the stock down nearly 38% YTD due to delayed rate cut expectations. However, a recent partnership with Apple (AAPL) saw AFRM stock jump 11% on June 11, offering hope for investors.

Despite the positive Apple partnership, Affirm stated that it will not have a significant impact on revenue in 2025. The company’s underperformance is due to high interest rates, but potential Fed rate cuts may provide some relief.

Affirm reported strong Q3 2024 earnings, exceeding expectations with revenue of $576.16 million. Key metrics like GMV, active customers, and transactions per customer all improved YoY. Continued losses have narrowed, while cash flow from operations turned positive in Q3.

The BNPL market is expected to grow significantly, presenting a growth opportunity for Affirm. Analysts remain divided on AFRM stock, with some firms recommending a “Sell” while others suggest a “Buy” rating. The stock’s future performance may be volatile given the current market conditions and Fed policy uncertainty.



Read more at Nasdaq: Is This Fintech Stock a Buy on Its Apple Partnership?