Apple Reports Q4 2023 Earnings Results, AAPL Stock Drops 3% in Pre-market
Apple reported quarterly revenue of $89.5 billion, down 1 percent YoY, and a cash pile of $162.1 billion down from $166.5 billion at the same time last quarter.
Apple reported quarterly revenue of $89.5 billion, down 1 percent YoY, and a cash pile of $162.1 billion down from $166.5 billion at the same time last quarter.
Analysts at KeyBanc downgraded Apple shares from ‘Overweight’ to ‘sector-weight’ citing a weaker sales growth outlook.
For its fiscal Q3 2023, Apple reported reduced revenue from iPhone, Mac, and iPad sales, while revenue from Other Products rose 2%.
Apple noted that only account holders in the Apple Developer Program can apply for the Vision Pro kit, which should be returned upon request.
Apple stock rallied more than 45 percent YTD to trade around $189.66 on June 28 fueled by future growth outlook.
Apple stock hit its new ATH driven by increased iPhone sales and the launch of a competitive Vision Pro VR headset last week.
The Apple Vision Pro headset comes with a wide array of features including 4K screens and Spatial Audio, and will first launch in the US.
The ruling, though it was a huge win for Apple, had minimal effects on AAPL shares.
Apple stock has declined approximately 26 percent and 13 percent in the past twelve months and three months respectively.
The new Mac Pro with an Apple Silicon chip could have had 48 CPU cores and 152 GPU cores.