From Nasdaq: 2024-04-29 15:29:00

This week’s earnings lineup includes a variety of companies, with Apple set to release its quarterly results. Apple’s stock has dropped 10% this year, outpacing the S&P 500’s gain of 8%. Concerns about slowing growth and demand from China have weighed down Apple’s share price.

Analysts are closely watching Apple’s China revenue, which has fallen short of expectations in previous releases. Expectations for the Services portfolio are higher than last year, but Apple has slightly missed expectations in recent releases. iPhone sales are expected to decrease by 10% compared to last year.

Earnings expectations for Apple have been slightly reduced since the beginning of February, with earnings per share and revenue estimates down by 2.6%. Investors will be looking at Apple’s performance in China and the growth of its Services portfolio. Heading into the release, Apple is a Zacks Rank #3 (Hold).

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Read more at Nasdaq: Apple Earnings: Time to Take a Bite?