Apple Expected To Report Record Earnings On January 31, 2017

Posted: Jan 26 2017, 5:40am CST | by , in News | Apple

Apple expected to report record earnings on January 31, 2017

Analysts fear the iPhone 8 might lack the must-have features to drive upgrades

Apple is set to report its earnings for Q1 fiscal 2017 on January 31, 2017. Barclays is estimating that Apple is set to report a massive and record breaking revenue to the tune of $76.6 billion. In the same quarter of 2016, Apple reported revenue of $75.9 billion. Apple's guidance for Q1 fiscal 2017 is predicting revenue in the $76 to $78 billion range.

UBS is a bit more upbeat on its prediction of revenue Apple will announce next week with estimates expecting Apple to report $77.8 billion, which is on the higher-end of Apple's own predictions. UBS' analyst Steven Milunovich maintains a buy rating for Apple stock at a target price of $127 per share compared to the current $120 price.

Barclays on the other hand is lowering its price target for Apple stock from $119 to $117. Moskowitz says that he doesn't expect "meaningful upside potential" for Apple in 2017. Moskowitz elaborates on this by stating that he thinks Apple customers will continue to opt for the iPhone 6S rather than the iPhone 7 and that could have impact on Apple.

The analyst also fears that the iPhone 8 will potentially have "no must-have advanced features" and therefore he is concerned that there may be no meaningful growth for Apple in the second half of 2017. He also believes that the major rumored features for the iPhone 8 such as OLED display, bezel-less screens, and embedded home buttons along with wireless charging might not be enough to give buyers that must-have upgrade fever.

Moskowitz wrote, "While not likely to have a similar replacement cycle of PCs (i.e., 5-7 years), we think the smartphone market and thereby the iPhone franchise stand to face incremental headwinds this year and next, as the smartphone useful life extends to 3 to 4 years from 2 to 3 years previously. As a result, the prospect of revolutionary technology incorporated into the next iPhone (iPhone 8) is not likely to counter the expanding useful life of smartphones in general."

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
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