Apple Beats Quarterly Estimates but Shares Fall on Weak Gross Margin Guidance
Apple (AAPL) reported fiscal fourth-quarter earnings of $2.10 per share and revenue of $114.48 billion, both exceeding analyst expectations. While iPhone sales remained strong at $57.58 billion, the company faced headwinds from lagging iPad sales and a disappointing gross margin forecast of 45% to 46%, which fell below consensus estimates. Despite an initial 4% drop in premarket trading, many Wall Street analysts maintain positive long-term outlooks. While concerns persist regarding rising memory costs and regulatory pressures on Services, firms like Goldman Sachs and Bernstein remain bullish, citing the upcoming iPhone refresh cycle and Apple's strategic positioning within the AI and on-device intelligence revolution.
Tickers: $AAPL $BAC $BARC $GS $JPM
Topics: analyst rating earnings report guidance miss iPhone sales revenue beat
Part of the story Apple Beats Quarterly Estimates but Shares Fall on Weak Gross Margin Guidance (3 articles)