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Apple (NASDAQ:AAPL) appears to be heading into its next earnings report on firmer footing than just a few weeks ago.
KeyBanc's KFLD data shows Apple product spending rose 37% month over month in March.
KEY POINTS
- Apple's hardware revenue for FQ2 is expected to decline 29–31% quarter over quarter, but grow 12.7–16.8% year over year.
- KeyBanc analyst suggests Apple may be building iPhone 17 inventory ahead of a missing base iPhone 18 model.
- Nispel raised FQ2 revenue estimate to $109.6 billion, driven by stronger iPhone assumptions.
- Despite higher estimates, KeyBanc maintains a Neutral rating, viewing Apple shares as fairly valued.
COMPANIES
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