Quantcast

Why Apple Probably Won’t Be Caught in the FANG Meltdown

Posted On July 31, 2018 1:32 pm
By:

Apple will report its fiscal third-quarter earnings after the bell Tuesday, as tech stocks continue to tank throughout a rocky earnings season.

Here’s what Wall Street is expecting from Apple:

Earnings per share: $2.18, according to a Thomson Reuters estimate

Revenue: $52.34 billion, according to a Thomson Reuters estimate

iPhone unit sales: 41.79 million, according to a Factset estimate

Tech stocks have taken a hit this earnings season after misses from FacebookTwitter, and Netflix. But thanks to its wildly profitable hardware business that’s fueled by the iPhone, Apple stands apart from the FANG stocks, which are consumer online services: Facebook, Amazon, Netflix and Google’s parent company Alphabet.

For the iPhone business, investors will be looking for hints as to how well the iPhone X has been selling. The iPhone X, which starts at $999, is much more expensive that other high-end phones from rivals like Samsung and Google. Apple said following its fiscal second-quarter earnings report last spring that the iPhone X was its best-selling model, which has helped drive up the average selling price (ASP) of the category. But the iPhone ASP that quarter came in below Wall Street’s expectations, suggesting that the iPhone X’s high price turned away some potential buyers.

Continue reading at CNBC.com

 Related: Apple Quarter Results Are In. Here’s What You Need to Know. 

Tagged with:

About author

Related Articles

Leave a reply

Your email address will not be published. Required fields are marked *