Technology

Apple Reports Fourth Quarter Results

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Apple reports fourth quarter results iPhone revenue sets September quarter record Services revenue reaches new all-time high CUPERTINO, Calif.—-November 02, 2023– Apple(R) today announced financial results for its fiscal 2023 fourth quarter ended September 30, 2023. The Company posted quarterly revenue of $89.5 billion, down 1 percent year over year, and quarterly earnings per diluted share of $1.46, up 13 percent year over year. “Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” said Tim Cook, Apple’s CEO. “We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030.” “Our active installed base of devices has again reached a new all-time high across all products and all geographic […]

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CFRA Maintains Buy Opinion On Shares Of Apple Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: AAPL posted Sep-Q EPS of $1.46 vs. $1.29, beating the $1.39 consensus. Sales fell 1%, near expectations, with iPhone growth of 3%, which matched our forecast. We believe the biggest negative from the results was the 2% Y/Y decline in China, worse than we expected, as we look for greater clarity about AAPL’s outlook for the region in the Dec-Q, given concerns about increasing competitive pressures in the region. That said, growth of 16% from AAPL’s higher margin Services business was a bright spot (beating our 10% growth forecast), an acceleration from the 8% pace in Jun-Q and 5% in Mar-Q. This supported a wider-than-projected gross margin of 45.2% vs. 42.3% a year earlier (we were looking for 44.5%). We note that Macs plunged a worse-than-expected 34%

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CFRA Maintains Hold Opinion On Shares Of Qualcomm Incorporated

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our 12-month target price to $132 from $125 on P/E of 13x our CY 25 EPS view of $10.27, below historical/peers to reflect tough end-market conditions. We keep our FY 24 (Sep.) EPS at $9.45 and start FY 25 at $10.16. QCOM posts Sep-Q EPS of $2.02 vs. $3.13, beating the $1.91 consensus. Sales fell 24%, slightly worse than expected, with declines of 12% from licensing (QTL) and 26% within its chip manufacturing business (QCT). While we are encouraged by the better than feared results/Dec-Q guide, we think this heavily reflects seasonality/Android ecosystem rebound as QCOM is no longer undershipping demand given more normalized channel inventories. Still, we are wary of upside as handset end-demand (-27% in Sep-Q; 74% of QCT revenue) is likely to

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CFRA Maintains Hold Opinion On Shares Of Doordash, Inc.

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CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target at $100, shifting to our P/E analysis and based on a ratio of 31x our ’25 EPS view, which we start at $3.23, above peers to reflect financial strength (net cash of $3.8B) and higher growth. We raise our ’23 EPS estimate to $1.77 from $1.38 and ’24 to $2.41 from $2.01. DASH posts Q3 adjusted EBITDA of $344M vs. $87M, well above the $255M consensus. Sales rose 27%, exceeding expectations, largely on a 24% increase in Marketplace GOV and greater contribution in advertising. We are impressed by accelerating growth across almost all businesses amid macro uncertainty, which we think is a testament of the stickiness of its ecosystem. We remain optimistic about Wolt international expansion, adjacent market expansion (e.g., groceries doubled

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Qualcomm’s Fiscal Q4 Non-GAAP Earnings, Revenue Beat Forecasts

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Qualcomm (QCOM) reported fiscal Q4 non-GAAP earnings late Wednesday of $2.02 per diluted share, down from $3.13 a year earlier. Analysts polled by Capital IQ expected $1.91. Revenue for the quarter ended Sept. 24 was $8.63 billion, down from $11.40 billion a year earlier. Analysts surveyed by Capital IQ expected $8.52 billion. The company said it expects fiscal Q1 non-GAAP EPS of $2.25 to $2.45. Analysts surveyed by Capital IQ are looking for $2.23. Revenue for the first fiscal quarter is projected to be $9.1 billion to $9.9 billion, the company said. Analysts polled by Capital IQ are expecting $9.19 billion.

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AMD Shares Rise After Q3 Non-GAAP Earnings, Revenue Beat Analysts’ Estimates

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AMD (AMD) shares were rising 7.2% in recent Wednesday trading after the company’s non-GAAP earnings and net revenue came in ahead of analysts’ forecasts. The company reported Q3 non-GAAP earnings late Tuesday of $0.70 per diluted share, up from $0.67 a year earlier. Analysts polled by Capital IQ expected $0.68. Net revenue for the quarter ended Sept. 30 was $5.8 billion, up from $5.57 billion a year earlier. Analysts expected $5.69 billion. For Q4, the company said it expects revenue to be about $6.1 billion, plus or minus $300 million. Analysts polled by Capital IQ expect $6.39 billion.

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Qualcomm’s Fiscal Q4 Non-GAAP Earnings, Revenue Drop; Fiscal Q1 Guidance Set

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Qualcomm (QCOM) reported fiscal Q4 non-GAAP earnings late Wednesday of $2.02 per diluted share, down from $3.13 a year earlier. Analysts polled by Capital IQ expected $1.91. Revenue for the quarter ended Sept. 24 was $8.63 billion, down from $11.40 billion a year earlier. Analysts surveyed by Capital IQ expected $8.52 billion. The company said it expects fiscal Q1 non-GAAP EPS of $2.25 to $2.45. Analysts surveyed by Capital IQ are looking for $2.23. Revenue for the first fiscal quarter is projected to be $9.1 billion to $9.9 billion, the company said. Analysts polled by Capital IQ are expecting $9.19 billion.

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