Nasdaq AAPL Apple

U.S. stock markets have now closed with losses for three consecutive months to mark their worst losing streak since 2020. However, the outlook for stocks looks relatively better as we head into November.

The Invesco Dow Jones Industrial Average Dividend ETF is seeing unusually high volume in afternoon trading Wednesday, with over 661,000 shares traded versus three month average volume of about 32,000. Shares of DJD were off about 0.3% on the day. Components of that ETF with th

Apple’s AAPL fourth-quarter fiscal 2023 results, to be reported on Nov 2, are expected to reflect the impacts of the sluggishness in the Mac and iPad shipments, as well as slowing momentum in the Services business.Apple expects re

What should investors make of this year’s third-quarter earnings? The Q3 results have been pretty good, with 78% of companies reporting so far beating the forecasts, but stocks are still feeling pressure. One obvious sign of that pressure: the S&P 500 this week hit its lowest point since last May, and is just shy of correction territory. The effect is most clearly seen in the ‘Magnificent Seven,’ a group of Big Tech giants whose gains earlier in the year carried the markets generally – but which are facing serious losses lately, despite solid earnings results. Four of these tech giants – Alphabet, Amazon, Meta, and Microsoft – have reported earnings so far, and all beat expectations. The group as a whole is expected to show a 33% year-over-year increase in profits this earnings season. Even so, the Magnificent Seven stocks are down 11% since the end of July. But does this mean you shouldn’t buy in? Wall Street’s analysts are weighing in on that question, especially relevant with both Apple and Nvidia scheduled to release earnings in the near future. These are iconic names, leaders in their respective industries, and they have proven records of long-term success. Let’s put them into focus ahead of their upcoming financial releases to see where they stand now and why some analysts are recommending 'Buy' ahead of the earnings results. Don’t miss Nuclear Power Is the Future — and These Stocks Are Leading the Charge J.P. Morgan Sees at Least 60% Gains in These 2 ‘Strong Buy’ Stocks —  Here’s Why They Could Soar ‘Buy the Dip’: Analysts Say These 2 Beaten-Down Stocks Offer a Compelling Entry Point —  Here’s Why They Could Rebound Apple ( AAPL) We’ll start with a company that needs little introduction: Apple. Apple's $2.67 trillion market cap makes it the largest publicly traded firm in the world. The company is best known for its iconic products, including the iPhone line, iPads, and MacBook computers. Apple’s success was built on its reputation for high-end quality and the professional-level applications that the Mac computer lines could support. In recent years, the company has been expanding its service segment. Apple has also been working to integrate AI technology into its user experience. The company has used it to improve the autocorrect feature on its iPhone line and is using AI to create a smarter AirPod, making an earbud that will recognize when the user is having a conversation and automatically lower the volume. Small tweaks have kept the product lines popular with consumers, and Apple weathered a serious industry-wide drop in smartphone sales earlier this year. Industry research showed that smartphone shipments fell 24% in 1H23, but Apple saw only a 6% decline in iPhone sales. By the end of the half, Apple held a 55% market share in smartphones. In its last reported quarter, fiscal 3Q23, which ended on July 1, Apple posted revenues of $81.8 billion, marking a 1% year-over-year loss, and earnings of $1.26 per diluted share, indicating a 5% year-over-year gain. These results were considered positive, especially in light of the overall decline in smartphone sales. The company also reported having more than 1 billion paid subscription customers, driving its Services segment to record revenues. Looking forward, the Street expects Apple to report $89.4 billion in revenue and $1.39 in earnings per share when it reports its fiscal Q4 financial results on November 2. Covering Apple for Morgan Stanley, analyst Erik Woodring writes of the upcoming earnings, “We expect Apple to post an in-line to better than expected September quarter (F4Q23), highlighted by MSD Y/Y iPhone revenue growth, accelerating Services growth, and record gross margins. However, we are more cautious on the December quarter (F1Q24) given iPhone supply shortages and uneven consumer spending, and believe Apple will guide to a revenue range that is both below normal seasonality and Consensus expectations. Looking at the rest of the mega cap tech names that reported this earnings season, the companies that have guided to December quarter profitability in excess of Consensus have seen greater post-earnings outperformance than those guiding closer (or below) to Consensus, and therefore we lean cautiously into earnings on Thursday.” Even though he is somewhat cautious, Woodring goes on to give an upbeat bottom line: “However, with the potential for iPhone upside later in the quarter (if supply improves; akin to the iPhone 13 cycle) and/or a better than seasonal March quarter, Services growth accelerating, and shares near what we believe is a near-term floor (of $160), we are bullish over the next 12 months.” The analyst’s stance supports his Overweight (i.e. Buy) rating on the shares, and his $210 price target implies a gain of nearly 23% for AAPL over the next 12 months. ( Watch Woodring’s track record) Overall, the analyst consensus on Apple is a Moderate Buy, based on 31 recent reviews that break down to 22 Buys and 9 Holds. The shares are selling for $171.40 right now, and their $203.35 average price target suggests a one-year upside potential of ~19%. (See Apple stock forecast ) Nvidia Corporation ( NVDA) Next up is Nvidia, a leader in the global semiconductor chip industry – and another of the stock market’s handful of trillion-dollar-plus companies. Nvidia has built its dominance around high demand for its top-end GPU chips, which were originally developed for high-end gaming apps but have found strong market share with professional graphic designers and AI developers as well. The launch of ChatGPT last November, and the subsequent boom in AI, opened up even more opportunities for Nvidia. Prominent among those opportunities was the announcement from ChatGPT’s creator, OpenAI, that it will need as many as 10,000 new GPU chips in the coming year in order to maintain current performance levels of the popular chatbot. Nvidia is already a leading supplier for the Microsoft-backed company, and now looks at 2024 from the happy vantage point of having a satisfied high-volume customer. It's not just AI that’s powering Nvidia’s growth. The company saw more than $10 billion in data center revenue, as customers went all-in on the company’s high-end, advanced computing chips. This accounted for the majority of Nvidia's $13.5 billion revenue in fiscal 2Q24, surpassing expectations by $2.43 billion. The firm’s non-GAAP EPS figure, of $2.70, was 61 cents ahead of the forecasts. Looking ahead to the company’s upcoming fiscal 3Q24 release, the expectations are for continued growth – revenue of $15.99 billion, and earnings of $3.37 per share. For 5-star analyst Ambrish Srivastava, writing from BMO, all of this adds up to a bullish picture for the long term. Srivastava says of Nvidia, “We believe as a company NVIDIA is likely experiencing the best visibility it has ever had. NVIDIA highlighted that its visibility for data center is backed by purchase orders, which are required for allocation requests from customers given supply constraints, with customers with large commitments likely getting priority... NVIDIA appears confident in its ability to secure supply into next year, both on the CoWoS side for the more complete GPU solutions, as well on the networking side, particularly in infiniband.” Looking ahead, the analyst, who is rated by TipRanks in the top 3% of the Wall Street stock pros, lays out a clear path for Nvidia in the near-term: “NVIDIA sees a very large addressable TAM ($1T installed base of data center infrastructure), with the company today addressing a single-digit percentage of the annual data center spend. NVIDIA sees a long-term tailwind of the installed base from general purpose CPUs to accelerated computing and generative AI.” Srivastava quantifies his outlook on Nvidia with an Outperform (i.e. Buy) rating, and a price target which, at $600, points toward a robust 47% gain in the coming year. ( Watch Srivastava’s track record) Overall, Nvidia has a Strong Buy consensus rating from Wall Street, supported by 38 analyst reviews with a lopsided split of 37 Buys to 1 Hold. The stock is priced at $407.80 – and its $645.53 average target price suggests an appreciation of 55% on the one-year horizon. (See Nvidia’s stock forecast ) To find good ideas for stocks trading at attractive valuations, visit TipRanks’  Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

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In its upcoming report, Apple (AAPL) is predicted by Wall Street analysts to post quarterly earnings of $1.39 per share, reflecting an increase of 7.8% compared to the same period last year. Revenues are forecasted to be $88.32 bi

A slide in the shares of the massive U.S. technology and growth companies that have led stocks higher this year is tempting investors hoping for bargains ahead of results from market bellwether Apple.

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As the world's most valuable company with a market cap of $2.6 trillion, it's always a good idea to keep Apple (NASDAQ: AAPL) on your radar for a potential investment. The company has a long history of delivering significant gains to patient investors. In fact, since Warren Buffe

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Technology giant Apple ( NASDAQ:AAPL ) will release its fourth quarter Fiscal 2023 financial results on Thursday, November 2. However, analysts’ revenue forecast indicates that the company’s hardware sales may disappoint in Q4.  Let’s delve into Q4 expectations. Apple’s Q4 Sales Could Remain Muted Analysts expect Apple to generate revenue of $89.34 billion in Q4, representing a year-over-year decline of approximately 1% from $90.15 billion in the prior-year quarter. Analysts’ Q4 sales estimate reflects a continued  weakness in Apple’s hardware sales.  Investors should note that the company’s hardware sales have declined during the third quarter, with its iPhone revenue decreasing by 2%. In addition, it registered a decline of 7% and 20% in Mac and iPad sales, respectively, during the same period. Apple’s management said during the Q3 conference call that its iPhone and Services revenue could show sequential improvement. However, Mac and iPad revenue could register a double-digit decline due to the tough year-over-year comparisons.  While Apple’s Q4 top line could remain muted, its bottom line is expected to show an improvement both on a sequential and year-over-year basis. Analysts expect  Apple to post an EPS of $1.39, up from $1.29 in the prior-year quarter. AAPL’s cost-saving measures and favorable mix shift towards Services will cushion its bottom line. With this backdrop, let’s look at what the analysts suggest for Apple stock ahead of fourth-quarter earnings.  Is Apple a Good Stock to Buy Right Now? Analysts remain cautiously optimistic about Apple stock ahead of Q4 earnings, given the short-term headwinds.  Jefferies analyst Andrew Uerkwitz lowered his 2024 revenue and earnings estimates for Apple ahead of the Q4 print. The analyst stated that the lengthening replacement cycle and competitive challenges in China could hurt the company’s performance. Uerkwitz lowered his price target to $195 from $200 on October 30. Nonetheless, the analysts reiterated the Buy recommendation.  Including Uerkwitz, 22 analysts have rated Apple stock a Buy. At the same time, nine analysts maintain a Hold. Overall, Apple has a Moderate Buy consensus rating on TipRanks. Further,  analysts’ average AAPL stock price target of $203.35 implies 19.08% upside potential from current levels. Insights from Options Trading Activity Options traders are pricing in a +/- 4.12% move on earnings, slightly lower than the previous quarter’s earnings-related move of -4.80%. Bottom Line Apple’s top and bottom lines are expected to benefit from the strength of the Services segment and favorable mix. However, weakness in Mac and iPad sales is expected to put pressure on its overall revenue, as evidenced by the analysts' consensus rating of Moderate Buy. Disclosure

After being under pressure due to weak digital ad spending because of macro pressures, increasing competition from TikTok, and the impact of Apple’s ( NASDAQ:AAPL ) iOS privacy policy changes, social media companies showed strong signs of recovery in the third quarter. However, they warned of unpredictability in Q4 due to the war in the Middle East. With this backdrop in mind, we used TipRanks’ Stock Comparison Tool to place Pinterest ( NYSE:PINS ), Meta Platforms ( NASDAQ:META ), and Snap ( NYSE:SNAP ) against each other to find the most attractive social media stock, as per Wall Street analysts.   Pinterest (NYSE:PINS) Shares of image-sharing app Pinterest rallied 19% on Tuesday after surpassing analysts’ revenue and earnings estimates for the third quarter. The company’s efforts to deepen engagement and grow monetization delivered the desired results, which reflected in the 8% rise in monthly active users to 482 million. Revenue increased 11% year-over-year to $763 million, with the company crediting the growth to its “unique differentiators as a visual search, discovery, and shopping platform.” Further, Pinterest’s Q3 2023 adjusted earnings per share (EPS) surged to $0.28 from $0.11 in the prior-year quarter due to higher revenue and disciplined expense management.   Looking ahead, Pinterest expects revenue to rise in the range of 11% to 13% and adjusted operating expenses to decline in the range of 9% to 13%.   Pinterest is enhancing its platform with the deployment of artificial intelligence (AI). It is confident about delivering a mid to high-teens compound annual growth rate (CAGR) in its revenue and expanding its adjusted EBITDA margins to reach the low 30% range over the next three to five years. Is Pinterest a Buy Now? In reaction to the impressive Q3 results, Bank of America analyst Justin Post upgraded PINS stock to Buy from Hold and increased the price target to $37 from $32 on Tuesday. Post said that his growth outlook for the company is now "favorable" compared to other social networking rivals. Other positives highlighted by the analyst included renewed confidence in the company’s new management team and better expense discipline than anticipated, which could drive additional upside in margins and EBITDA. Also, Post noted that the beginning of the Amazon ( NASDAQ:AMZN ) deal ramp is getting closer, which is expected to further accelerate PINS’ growth in the first half of 2024. Earlier this year, Pinterest inked a multi-year deal with Amazon, under which the e-commerce giant will be its first partner on third-party ads.    With 19 Buys and 10 Holds, Wall Street has a Moderate Buy consensus rating on Pinterest. The average price target of $34.77 implies 16.4% upside from current levels. Shares have advanced 23% year-to-date. Meta Platforms (NASDAQ:META) Last week, social media giant Meta Platforms reported market-crushing third-quarter results, with revenue rising 23% year-over-year to $34.1 billion. This marked a notable acceleration in revenue growth compared to 11% and 3% in Q2 and Q1, respectively, and reflected a solid recovery in digital ad spending. Moreover, Q3 EPS jumped 168% year-over-year to $4.39, driven by the stellar rise in revenue and robust improvement in operating margin backed by productivity measures. Despite solid numbers, META shares declined following its Q3 report as the company warned about softness in ad demand at the beginning of Q4 2023 due to the Israel-Hamas war. Also, the company cautioned about a meaningful increase in the Reality Labs division's operating losses next year due to investments in augmented reality (AR) and virtual reality (VR) products and other strategic investments. Is META a Buy, Sell, or Hold? JPMorgan analyst Doug Anmuth explained that Meta shares sold off following Q3 earnings release due to management’s commentary about greater ad volatility in Q4 2023 owing to geopolitical issues. The analyst contends that while Meta’s Q4 revenue guidance is wider than usual due to the ongoing Israel-Hamas war, the high-end of the outlook is strong at $40 billion, which indicates mid-20’s% growth. Anmuth believes that Meta has a solid product platform and plenty of investment opportunities across AI, Reels, Messaging, Threads, and Metaverse. Noting the company’s strong execution and cost discipline, Anmuth raised his price target for META stock to $420 from $400 and reiterated a Buy rating.  Overall, Meta earns Wall Street’s Strong Buy consensus rating based on 37 Buys and one Hold. At $384.34, the average price target implies 27.6% upside potential. Meta shares have rallied over 150% so far in 2023. Snap (NYSE:SNAP) Photo messaging app Snap returned to revenue growth in the third quarter, as the company enhanced its ad-targeting tools with AI. Revenue grew 5% year-over-year to $1.19 billion. The company’s GAAP loss per share increased to $0.23 from $0.22 in the prior-year quarter but was lower than analysts’ estimate of a loss per share of $0.24. Like larger rival Meta, Snap also cautioned investors about the impact of geopolitical tensions on the fourth quarter. In particular, the company said that it noted pauses in spending from “a large number of primarily brand-oriented advertising campaigns” as soon as the war in the Middle East began. While Snap did not issue formal guidance for Q4, it stated that its internal forecast implies revenue growth in the range of 2% to 6%. What is the Target Price for Snap? On October 25, Citigroup analyst Ronald Josey raised his revenue and EBITDA estimates for Q4 and 2024 but maintained a Hold rating on SNAP with a price target of $11. Josey expects the company’s growth to continue to lag peers in Q4 2023. Further, he anticipates that margins will be pressured by the company’s generative AI investments. He added that a slowdown in user growth and growing competition from Instagram, Alphabet ( NASDAQ:GOOGL )-owned YouTube’s Shorts, and TikTok might also drag down the stock. Including Josey, 20 analysts have a Hold rating on Snap stock, while one has a Buy recommendation and three have a Sell rating. The average price target of $10.03 implies that the stock could be range-bound at current levels. Shares have risen about 12% year-to-date. Conclusion Wall Street is highly bullish on Meta Platforms due to its massive customer base, AI prospects, and focus on cost efficiency. Despite a solid year-to-date rally, analysts see higher upside potential in Meta stock than Pinterest and Snap. Disclosure