Published August 3rd 2022

TOGGLE Insight: $AAPL Earnings per Share dropped following Quarterly Earnings report

Apple announced last week the results for its fiscal 2022 third quarter. Apple posted a quarterly revenue record of $83.0 billion, which is up 2 percent going from year over year. CEO Tim Cook shared his thoughts, stating that it is thanks to "Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers.” With a lot going well for Apple right now, with revenue nearly doubling in India and the potential announcement of new watches and a series of iPhones in September. The team wanted to check in to see what TOGGLE had to say about the stock.

Apple Inc. designs, manufactures and markets smartphones, personal computers, tablets, wearables and accessories, and sells a variety of related services. The Company's products include iPhone, Mac, iPad, and Wearables, Home and Accessories. Wearables, Home and Accessories includes AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch and other Apple-branded and third-party accessories. Its services include Advertising, AppleCare, Cloud Services, Digital Content and Payment Services. Its customers are primarily in the consumer, small and mid-sized business, education, enterprise and government markets.

Equity Yields indicators for Apple saw that the earnings per share for Apple had dropped. Historically, when this occured, it has led to a median increase in Apple price of 20.75% over the next three months. TOGGLE has analyzed 7 similar occasions that have occurred in the past to produce the median projection and the confidence band below, most recently on September 28, 2007. This insight has received 6 out of 8 stars in our quality assessment.

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Apple Projection

TOGGLE Insight: $AAPL Earnings per Share dropped following Quarterly Earnings report

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