What to Expect From Analog Devices Q1 Earnings Today?
<p>Deutsche Bank analysts provided their outlook on <a href='https://financialmodelingprep.com/financial-summary/ADI'>Analog Devices, Inc. (NASDAQ:ADI)</a> ahead of the company’s upcoming Q1/23 earnings announcement today before the market opens.</p>
<p>The analysts see mixed trends heading into the report. On one hand, macro/business trends have clearly deteriorated over the last 90 days. On the other hand, the company's backlog remains extended even after extensive scrubbing, and Street estimates already contemplate a sub-seasonal decline in the April quarter. </p>
<p>Thus, while the analysts do expect a more cautious tone from the company in general to reflect elevated customer inventories and softer end demand, they still anticipate this quarter’s print/guide to be largely in-line with downward adjustments more likely to occur in out-quarters to yield slightly negative revisions to 2023/2024 estimates as the company’s elevated backlog normalizes.</p>

NASDAQ:ADI