Apple Gets Ready to Showoff (AAPL) Post-Google (GOOG), Microsoft (MSFT) Earnings
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Price: $397.95 -2.72%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.8%
Revenue Growth %: +15.0%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 0.8%
Revenue Growth %: +15.0%
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Microsoft Corporation (Nasdaq: MSFT) and Google Inc. (Nasdaq: GOOG) are both higher in pre-market trading on Friday. Micosoft earnings for the fourth-quarter beat on the bottom and top lines, and Google posted revenue of $9.61 billion, notably better than the $8.41 billion analysts were expecting. The nation's largest tech company, Apple (Nasdaq: AAPL) is set to report 3Q earnings on Tuesday, July 24th.
Shares of Apple comprise 20 percent of the popular sector ETF, Technology Select Sector SPDR (NYSE: XLK). Apple is also a large weighting in QQQ (18%). This compares to Microsoft and Google who comprise approximately 9 and 5 percent of QQQ, respectively. Needless to say, without Apple technology is going nowhere.
Apple's quarterly earnings expectations are not a softball by any means. The tech giant is expected to report EPS of $10.38 and revenue of $37.35 billion. Early this week, analyst Andy Hargreaves of Pacific Crest said Apple is unlikely to hit the street's 3Q and 4Q expectations. As anyone who as been following the stock knows, betting against Apple has been the ultimate sucker's beat.
Despite what looked like shaky results going into Q2, last quarter the company pulled a rabbit out of its hat and crushed estimates due to surprisingly strong sales of iPhones in China. Who knows exactly how many rabbits Apple has, but with the iPad 2 release today in China and with the iPhone 5 launch looming later this year, now may not be the time to listen to the little contrarian sitting on your shoulder. For now, it is probably best to sit back and watch Apple's magic show.
Shares of Apple comprise 20 percent of the popular sector ETF, Technology Select Sector SPDR (NYSE: XLK). Apple is also a large weighting in QQQ (18%). This compares to Microsoft and Google who comprise approximately 9 and 5 percent of QQQ, respectively. Needless to say, without Apple technology is going nowhere.
Apple's quarterly earnings expectations are not a softball by any means. The tech giant is expected to report EPS of $10.38 and revenue of $37.35 billion. Early this week, analyst Andy Hargreaves of Pacific Crest said Apple is unlikely to hit the street's 3Q and 4Q expectations. As anyone who as been following the stock knows, betting against Apple has been the ultimate sucker's beat.
Despite what looked like shaky results going into Q2, last quarter the company pulled a rabbit out of its hat and crushed estimates due to surprisingly strong sales of iPhones in China. Who knows exactly how many rabbits Apple has, but with the iPad 2 release today in China and with the iPhone 5 launch looming later this year, now may not be the time to listen to the little contrarian sitting on your shoulder. For now, it is probably best to sit back and watch Apple's magic show.
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