Connect with us

Hi, what are you looking for?


Apple shares up on Q3 results: should you buy?

Apple Inc (NASDAQ: AAPL) reported market-beating results for its fiscal third quarter on Thursday. Shares are up 3.0% in after-hours trading.

Apple shares break above their 200-day MA

Unlike a list of mega cap tech names, Apple signalled that it does “not” plan on slowing the pace of hiring. On CNBC’s “Fast Money”, Dan Nathans – Founder of RiskReversal Advisors turned to “technicals” to make a bull case for Apple shares.

It’s trading at $163 a share in the aftermarket, which is up about 25% from June lows. It is above its 200-day moving average. You will not find another mega cap tech name anywhere near its 200-day moving average.

Apple blamed supply constraints for a hit to Mac revenue this quarter, but expects such pressures to somewhat ease in Q4. On top of that, the macro environment, it added, has failed to make a notable dent in the iPhone demand so far. Nathans said:

Apple is bucking that trend right now. They’re great operators in this difficult environment. There’s really nothing to knock at this one here.

The multinational spent more than $28 billion on dividend payments and share repurchase in Q3. Wall Street has a consensus “overweight” rating on Apple shares with upside to $181 on average.

Key takeaways from Apple Q3 results

Earned $1.20 a share versus the year-ago of $1.30 a share
Revenue went up 2.0% on a year-over-year basis to $83 billion
iPhone revenue jumped 3.0% ($40.67 billion) to beat estimates
Services revenue gained 12% ($19.60 billion) but fell shy of expectations
Mac revenue tanked 10% to $7.38 billion versus $8.70 billion expected
iPad revenue was also down 2.0% but still ahead of experts’ forecast
Revenue from China dropped only 1.0% despite the COVID restrictions

“Other Products” brought in $8.08 billion (down 8.0%), missing the consensus by $780 million. Gross margin improved from 42.61% to 43.26%, as per the earnings press release. “Foreign exchange” was a significant headwind for Apple in Q3.

The post Apple shares up on Q3 results: should you buy? appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023