Apple’s fortune is getting lemons as its shares are getting 10% down this year 2022 and now Apple trading 15% below than before. On Wednesday, new iPhone versions has been released with very high expectations for a green light for Apple’s stock. It is also expected to be a source of attraction for investors to spend more on the stock.
According to analysts, the earnings per share would be 9% this year. It also holds the ability to generate $392.5 billion in sales and it could be 6% next year in 2023.
Apple has always been listed as one of the world’s most worthy corporations with a market capitalization of $2.5 trillion. It also makes a big profit bag from its beneficial services unit, iCloud subscriptions, Apple TV+, Apple Music, and other perks which are only available for iPhone, iPad, and Mac users.
Chief investment officer of ACM Funds, Jordan Kahn, spoke about Apple. “All the hoopla around the iPhone 14 upgrade cycle should help Apple in the short-term,” he said. He also owns Apple in the ACM Dynamic Opportunity Fund.
According to analyst Daniel Ives of Wedbush Securities, the initial order of iPhone 14 units was worth 90 million. It is approximately flat than the iPhone 13 along with “macro storm clouds building.” “This speaks to the underlying demand story that Apple anticipates for this next iPhone release with our estimates that 240 million of 1 billion iPhone users worldwide have not upgraded their phones in over 3.5 years,” Ives added.