Apple Shares Surge 7% on Q4 Beat
<p><a href='https://financialmodelingprep.com/financial-summary/AAPL'>Apple (NASDAQ:AAPL)</a> shares rose more than 7% higher on Friday following the company’s reported Q4 results, with EPS of $1.29 coming in better than the Street estimate of $1.26. Revenue was $90.1 billion, compared to the Street estimate of $88.76 billion.</p>
<p>Analysts at Deutsche Bank slightly lowered their price target to $170 from $175 post results. The brokerage noted that the results were ahead of Street estimates with an upside in Macs and Wearables more than offsetting the downside in iPhones and Services. </p>
<p>The company did not provide revenue guidance for Q1, which is a 14-week quarter, but did suggest total revenue will decelerate from the Q4 level, while Services should grow year-over-year. That said, it's unclear whether revenue would grow on a 13-week basis. </p>
<p>Considering the slower growth for iPhones in Q4 and media reports suggesting iPhone production cuts, the analysts lowered their forecast for iPhone units for 2022/2023 from +1%/+3% to -1%/-3%.</p>

NASDAQ:AAPL