Apple Inc (AAPL) Q3 2022 (USD): EPS 1.20 (exp. 1.16), Revenue 82.96bln (exp. 82.81bln)
- iPad: 7.22bln (exp. 6.94bln)
- iPhone: 40.67bln (exp. 38.33bln)
- Mac: 7.38bln (exp. 8.7bln)
- Products revenue: 63.36bln (exp. 62.44bln).
- Wearables, home and accessories 8.08bln (exp. 8.82bln).
- Service revenue 19.60bln (exp. 19.75).
- Greater China revenue 14.60bln, -1.1% Y/Y.
- CFO seeing no demand slowdown for iPhones.
- Over 800mln paying subscribers now.
- Expect 6% hit from FX in current Q.
- Ad sales being hurt by economic environment in previous, and current Q.
- Supply chain issues in June cost just under USD 4bln in sales.
- Mac and iPad remain supply constrained.
- Wearables, home products, and accessories seeing demand weakness due to economy.
Analysis details (21:30)
- 7.4% SPX weight
- 16.4% NDX weight
- 3.1% Dow weight
- Sector/Industry: Information Technology/Technology Hardware, Storage & Peripherals
- Avg Rating: 'Buy'
- Avg Price Target: USD 182.94
- Price Target Changes (last 30 days): 8 upward vs 6 downward
28 Jul 2022 - 21:30- Important- Source: Apple
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