Apple Q1 Earnings preview - here's what to expect

01:07, 27 January 2020

Apple will announce its Q1 earnings results on Tuesday, Jan. 28, after market close and expectations are high after the stock’s remarkable recent performance.

In the past 12 months, Apple (AAPL) shares have more than doubled and the trend continued so far in 2020, rallying about 10%. Compared to the last earnings report released on Oct. 30, 2019,  the stock has climbed 32% increasing the company’s valuation to $344 billion —or about $4 billion a day. Investor enthusiasm about Apple's strategy has helped the stock outperform the market in the previous year, posting a 111% total return compared to a nearly 26% return for the S&P 500.

Recently, Apple has been trying to increase its businesses even further by focusing on services revenue growth from streaming movies and TV, but also video games and music. Analysts see this as a plan to reduce the company’s dependence upon the iPhone, even if services revenue only accounted for 19.5% of Apple’s $64 billion total revenue for the previous quarter. Investor enthusiasm about Apple's strategy has helped the stock outperform the market in 2019, posting a 111% total return compared to a nearly 26% return for the S&P 500.

Many analysts have revised their 12-month price targets for Apple, with Wedbush raising it to $400 earlier in January, which implies a valuation of $1.75 trillion.

Sources: investing.com, barrons.com, investopedia.com, visiblealpha.com

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