Apple’s Q1 2023: This Earnings Report Might Be Different


  • On the backdrop of both supply and demand challenges, I am concerned about Apple’s upcoming earnings release for the December 2022 quarter.
  • According to the latest IDC data, which estimates that iPhone shipments fell close to 15% year over year in the December quarter.
  • Given the data, I believe it will be difficult for Apple to meet the analyst consensus estimates, which I believe are overly optimistic.
  • Although I still maintain a long-term target price of $200.59/share, I downgrade my recommendation for Apple to a temporary ‘Hold’.

Apple Store

Nikada/iStock Unreleased via Getty Images


I continue to be a long-term Apple (NASDAQ:AAPL) bull. In my opinion, the company’s strong brand equity, paired with the desire to innovate, offers an exceptional platform for further business expansion. However, looking at the upcoming earnings release (2nd

AAPL revenue estimates, analyst revisions

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AAPL EPS estimates, analyst revisions

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iPhone delays FY 2023 Q1


Aapl vs Spy 12 months performance

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Disclosure: I/we have a beneficial long position in the shares of META either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: Not financial advise

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