Apple's Q3 earnings report shows positive growth expectations, but shares are considered overvalued.

From Morningstar: 2024-08-08 06:37:00

Apple released its fiscal third-quarter earnings report on August 1, 2024, with a fair value estimate of $185 per share, reflecting growth expectations in iPhone and services revenue. Despite bullish projections for strong iPhone growth in fiscal 2025, shares are seen as overvalued. Apple holds a wide economic moat rating with positive financial strength but medium uncertainty. Bulls cite a strong ecosystem, while bears point to cyclicality and supply chain concentration in China and Taiwan.



Read more at Morningstar: After Earnings, is Apple Stock a Buy, Sell, or Hold?