Credit Suisse Cuts Apple (AAPL) Q1 Estimates

AAPL Apple earnings

Credit Suisse cuts AAPL iPhone first quarter 2023 estimate by 7 million to 69 million pieces. Total revenue for the first quarter was estimated 2% lower than the same quarter last year at $121.66 billion, which is 4% down from the previous estimate.

The Swiss bank sees now earnings per share of $1.92 a drop of almost 8% compared to Q1 2021 (EPS $2.07).

For the full year 2023, expects total revenue of $99.69 billion, an increase of $4.21 billion and EPS of $1.50.

Credit Suisse reiterates AAPL at Outperform and sets a price target for Apple stock of $184.

Apple faces macroeconomic risk, antitrust concerns, supply chain challenges, currency fluctuations and weak consumer spending.

Apple stock is trading slightly higher in premarket trading with gains of 0.30% at $143.10.

Previous Article

DocuSign (DOCU) Reports Strong Third Quarter Results

Next Article

Key Events in the Week Ahead 12/18-12-2022 – Fed-ECB-BOE

You might be interested in …

NIO NIO

NIO Reports Strong Q3 2023 Results

NIO Inc. (NIO) a pioneer and a leading company in the premium smart electric vehicle market, today announced its unaudited financial results for the third quarter that ended September 30, 2023

PPI PMI Fed CPI

The Week Ahead 14/20-11-2022

October PPI is expected at 8.4 on yearly basis from 8.5 in September. The core PPI is forecasted at 7.2 same as the previous month.