14 Mins Ago
Apple stock is up 48% for the year
Apple’s stock year-to-date
Apple’s stock is up 48% so far in 2023 as investors value the company’s strong cash flow. Still, Wall Street will watch the company’s forecast data points closely to see what demand looks like in the second half of the calendar year, Apple’s fiscal fourth quarter, and then its first quarter of fiscal 2024, which is the holiday season.
That’s when investors could see sales from new iPhones, new Apple Watches and whatever else Apple releases before the end of the year.
By comparison, Apple shares were up just 6.4% YTD on this day last year, 11% YTD in 2021 and 48% YTD in 2020. It’s looking like a solid year so far, but it’ll need to keep chugging to match some of its better years.
Apple stock finished 2020 up 81% and 2019 up 86%, for example. And it closed 2009 up 147% and it finished up 133% in 2007, the year the iPhone was launched. — Kif Leswing
46 Mins Ago
Apple may provide an update on India, an increasingly important market
Apple could also give updates on how it sees the Indian market. CEO Tim Cook traveled to the country in April, and it became one of Apple’s top five iPhone markets during the quarter. China will also be a focus after two straight quarters with sales decline and questions about the company’s economic recovery after it lifted Covid lockdowns earlier this year. — Kif Leswing
An Hour Ago
Apple’s June quarter is typically the slowest of the year
The June period is typically Apple’s slowest quarter of the year, while its fourth fiscal quarter — the September quarter — captures back-to-school laptop spending, and sometimes, a few days of new iPhone model sales, depending on when new devices go on sale.
In Apple’s fiscal Q3 2022, for example, Apple reported $83 billion in revenue, up 2% year-over-year. But in its September quarter, fiscal Q4, it reported $90.15 billion in revenue, up 8.1% year-over-year.
— Kif Leswing