Apple Poised for Fiscal Second-Quarter Beat on Stable Product Demand, Morgan Stanley Says

MT Newswires04-23

apple logo -Shutterstock Apple (AAPL) is likely to deliver a fiscal second-quarter beat amid stable product demand and services outperformance, but guide the third quarter below market consensus, ...

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Morgan Stanley raised its earnings outlook to $1.51 a share from $1.48 and its revenue expectations to $91 billion from $89.95 billion amid better-than-projected product shipments and App Store outperformance, it said in a note. Wall Street is looking for $1.50 and $90.03 billion, respectively, according to the brokerage.The brokerage said it expects that the focus of Apple's Worldwide Developer Conference in June will be on new artificial intelligence software features. \"As a result, there's a chance Apple could see a relief rally/squeeze higher on a 'better-than-feared' earnings report/guide,\" Morgan Stanley wrote. \"This creates a tricky setup, and one we don't believe investors necessarily need to step in front of.\" The firm","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"AAPL":"苹果","IE0009356076.USD":"JANUS HENDERSON GLOBAL TECHNOLOGY AND INNOVATION \"A2\" (USD) ACC","IE00B7KXQ091.USD":"Janus Henderson Balanced A Inc USD","BK4501":"段永平概念","LU0348723411.USD":"ALLIANZ GLOBAL HI-TECH GROWTH \"A\" (USD) INC","BK4527":"明星科技股","IE00BLSP4452.SGD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis SGD-H Plus","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","BK4579":"人工智能","IE00BFSS7M15.SGD":"Janus Henderson Balanced A Acc SGD-H","BK4588":"碎股","LU0109391861.USD":"富兰克林美国机遇基金A Acc","IE00B3S45H60.SGD":"Neuberger Berman US Multicap Opportunities A Acc SGD-H","LU0234570918.USD":"高盛全球核心股票组合Acc Close","LU0238689110.USD":"贝莱德环球动力股票基金","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BK4574":"无人驾驶","IE00B19Z9505.USD":"美盛-美国大盘成长股A Acc","IE0004445239.USD":"JANUS HENDERSON US FORTY \"A2\" (USD) ACC","LU0072462426.USD":"贝莱德全球配置 A2","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","BK4573":"虚拟现实","LU0098860793.USD":"FRANKLIN INCOME \"A\" INC","BK4505":"高瓴资本持仓","LU0082616367.USD":"摩根大通美国科技A（dist）","LU1989772840.SGD":"CPR Invest - Climate Action A2 Acc SGD-H","BK4581":"高盛持仓","LU1989772923.USD":"CPR Invest - Climate Action A2 Acc USD-H","LU0080751232.USD":"富达环球多元动力基金A","BK4504":"桥水持仓","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","MS":"摩根士丹利","LU0308772762.SGD":"Blackrock Global Allocation A2 SGD-H","IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IE00BKDWB100.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5H\" (SGDHDG) ACC","LU0234572021.USD":"高盛美国核心股票组合Acc","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4170":"电脑硬件、储存设备及电脑周边","LU0320765646.SGD":"FTIF - Franklin Income A MDIS SGD-H1","BK4127":"投资银行业与经纪业","LU0353189763.USD":"ALLSPRING  US ALL CAP GROWTH FUND \"I\" (USD) ACC","IE00BZ1G4Q59.USD":"LEGG MASON CLEARBRIDGE US EQUITY SUSTAINABILITY LEADER \"A\"(USD) INC (A)","LU0106831901.USD":"贝莱德世界金融基金A2","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","BK4592":"伊斯兰概念","BK4532":"文艺复兴科技持仓","LU0320765059.SGD":"FTIF - Franklin US Opportunities A Acc SGD","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","BK4534":"瑞士信贷持仓","IE00BFSS8Q28.SGD":"Janus Henderson Balanced A Inc SGD-H"},"translate_title":"摩根士丹利称，苹果第二财季有望因稳定的产品需求而击败对手","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MS":1,"AAPL":1},"content_text":"apple logo -Shutterstock\n \n Apple (AAPL) is likely to deliver a fiscal second-quarter beat amid stable product demand and services outperformance, but guide the third quarter below market consensus, Morgan Stanley said Monday.\n\n The iPhone maker is scheduled to release second-quarter results May 2. Morgan Stanley raised its earnings outlook to $1.51 a share from $1.48 and its revenue expectations to $91 billion from $89.95 billion amid better-than-projected product shipments and App Store outperformance, it said in a note. Wall Street is looking for $1.50 and $90.03 billion, respectively, according to the brokerage.\n\n Morgan Stanley said its checks and the latest build estimates suggest iPhone demand was largely stable in the quarter, with strength in non-China emerging markets partially countering double-digit annual drops in China. The firm raised its iPhone shipments outlook to just over 50 million units from 49 million units for the March quarter. \n\n \"A similar dynamic played out with the iPad in the quarter, and the supply chain's most recent build forecast implies (roughly) 5% upside to our prior shipment forecast,\" Morgan Stanley said, noting that it was previously looking for a 10.5 million unit print. The brokerage expects Mac shipments to have grown on an annual basis in the quarter and top its views, while services revenue likely grew is pegged at nearly 13%, according to the note.\n\n The firm continues to expect third-quarter EPS of $1.22, but cut its revenue outlook to $80 billion from $80.85 billion, below the Street's respective $1.31 and $83.33 billion views. Morgan Stanley pegs iPhone revenue at $35.63 billion versus the $37.82 billion modeled by the Street. The brokerage projects third-quarter iPhone shipments at 39 million units, which it said was 15% below the Street. \n\n \"We'd highlight that there could be some upside to our iPhone shipment forecast as recent build strength implies up to 2 (million) units of potential upside vs. our forecast, but given the general weakness of global iPhone demand, we keep our iPhone shipment forecast unchanged for now,\" Morgan Stanley said.\n\n The firm lowered its price target on the Apple stock to $210 from $220 while maintaining its overweight rating. \"We expect a (March-quarter) beat and a well-telegraphed (June-quarter) guide down, but with the stock at $165, we'd argue this is largely priced in,\" according to the note.\n\n The brokerage said it expects that the focus of Apple's Worldwide Developer Conference in June will be on new artificial intelligence software features. \"As a result, there's a chance Apple could see a relief rally/squeeze higher on a 'better-than-feared' earnings report/guide,\" Morgan Stanley wrote. \"This creates a tricky setup, and one we don't believe investors necessarily need to step in front of.\" The firm said it would buy any post-earnings weakness in Apple stock ahead of the technology giant's \"biggest WWDC ever.\"","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2429061859"}