Apple company AAPL It is due to announce its financial results for the second quarter after the market closes on Thursday.
Here’s a look at the bull and bear perspective on what to expect from the tech giant after the bell.
Take the bull: Co-founder of Market Rebellion John Najarian He doesn’t necessarily expect a blowout number from Apple, but he wouldn’t be surprised if the stock jumped in the report, similar to the move in Meta Platforms Company FB The following stocks have Quarterly results.
“As Meta has shown you, you don’t really need blowout numbers after stocks have taken a good hit,” Najarian said Thursday in CNBC’s “Fast Money Halftime Report.”
Apple shares are down about 7% over the past month, according to data from Benzinga Pro. Najarian expects Apple to show continued strength in demand for wearables, services, and even health-related products.
“I think this is going to be a very good quarter and I think the stable numbers are very beneficial for the market here,” Najarian said. He owns Apple stock and call options and plans to retain profits.
Take the bear: Short Hills Capital Steve Weiss He acknowledged that he doesn’t expect the stock to fall significantly, but Apple’s report will tell on the consumer’s case, he said, asking whether or not the average consumer will be able to continue to afford iPhone upgrades amid rising inflation and geopolitical uncertainty. .
“I’m a little bit worried about that and I’m a little bit worried about going forward because I see the consumer is a dichotomous and a large portion of their base are consumers who are inflexible spending,” Weiss said.
He told CNBC he’s holding on to Apple’s post-close earnings.
AAPL Price Action: Apple traded between $122.25 and $182.94 over 52 weeks. The stock is up 4.2% to $163.17 at press time.
Photo: Courtesy of Apple Inc.