Shares of Apple (AAPL) are down over 10% in 2024 as the tech giant has faced mounting challenges, including increased competition in China, where iPhone sales have dragged. As earnings season heats up, many on Wall Street are eyeing “Magnificent 7” tech stocks, which have led previous market rallies.
Creative Strategies CEO and Principal Analyst Ben Bajarin joins Market Domination to discuss expectations for Apple’s Thursday earnings report.
Bajarin gives insight into key issues to pay attention to: “One of the things a lot of people will be looking at is there any commentary on MIC shift, the last couple years with iPhones the buyers have moved more to the high end of the market, buying things like Pro and Pro Max, I think they’re going to want to see if that’s continuing just to get a gauge of ASPs. A lot of that hopefully comes out in commentary, but I think again, all eyes on iPhone and just sort of seeing where we are at in this cycle and expectations are probably relatively flat.”