Apple’s latest installment of quarterly earnings is on January 30 after market close, and there are five key points that Apple needs to make to satisfy investors.
Apple CEO Tim Cook
Apple CEO Tim Cook
Morgan Stanley has proven to be one of the more accurate and reasonable firms that cover Apple. In a new note released on Friday by the firm, analyst Erik Woodring notes that the earnings setup feels very similar to a year ago. Like a year ago, he is expecting a street beat, but a lower than expected second quarter revenue predictions.
Specifically, the firm remains bullish on its overweight rating and maintained $273 price target. Woodring expects revenue of $124.0 billion, and $2.31 earnings per share. This all implies a 3.7% revenue growth — which is roughly in line with what Wall Street expects as a whole.