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BUZZ-PREVIEW: Apple shares slip; results due after the bell

ReutersJan 30, 2025 5:54 PM

** Shares of Apple AAPL.O were down 0.4% Thurs amid a more than 1% decline in the S&P 500 tech sector .SPLRCT in midday trading, with the iPhone maker due to report qtrly results after the closing bell

** Analysts are expecting qtrly rev of $124.12 bln vs $119.58 bln a yr ago. Analysts also expect earnings of $2.35/shr vs $2.18 a yr ago, according to LSEG

** The co's slow roll-out of AI features and tough Chinese competition may have weighed on iPhone demand, and investors are likely to focus on any AI-related comments from Apple executives this evening

** A broad selloff in US tech shares Mon was linked to the emergence of a low-cost Chinese AI model DeepSeek

** Earlier this week, brokerage firm Oppenheimer downgraded AAPL to "perform" from "outperform"

** Of the 48 analysts who cover Apple, 31 rate it a "strong buy" or "buy," 13 rate it a "hold" and four recommend a "sell" or "strong sell," per LSEG

** The median 12-mo PT on the stock is $250; the stock was last $238.48

** Including the session move, AAPL is down 4.8% YTD vs a 5.3% gain in the Dow Jones Industrial Avg .DJI

** AAPL options imply a 4.2% swing for the shares, in either direction, by Fri; over the last eight quarters, on average, the shares moved 2.6% the day after results, according to Trade Alert

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