Juice Box (AAPL Earnings)
Apple will report its third quarter earnings tonight after the close of trading.
The company is expected to report earnings per share of $1.20, which is in line with last year's earnings. Revenue is expected to be $81.8 billion, which is a decrease of 1.4% from last year.
The company has provided some guidance for the upcoming quarter. It expects June quarter revenue performance to be similar to the March quarter. Foreign exchange will have a negative impact of 4%.
Services revenue growth is expected to be similar to the March quarter.
TECHS:
Apple has a market capitalization of $3.02 trillion and currently trades at 32 times fiscal year 2023 earnings.
The options market is pricing in a move of about 4% in either direction by the weekly expiration date on Friday, August 4.
This is based on the weekly AAPL Weekly Aug04 $192 straddle.
Some suppliers to keep an eye on include:
SWKS (Skyworks Solutions)
CRUS (Analog Devices)
AVGO (Broadcom)
QRVO (Qorvo)
TSM (Taiwan Semiconductor Manufacturing Company)
QCOM (Qualcomm)
SSNLF (Summit Electronics)
LPL (Lam Research)
LITE (LiteOn Technology)
These suppliers are all exposed to Apple's business and could see their share prices move in tandem with Apple's stock price.
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