Earnings week ahead: Apple, Microsoft compete for title of world's largest company
Investing.com | Author Davit Kirakosyan
Published Jan 28, 2024 20:32
Updated Jan 28, 2024 21:06
Investing.com — Here is your Pro report of the upcoming major earnings releases next week: Apple, Microsoft, General Motors, Amazon, and Mastercard.
Apple/h2
Apple (NASDAQ:AAPL) is expected to report earnings for Q1/24 on Feb 1, post-market close. Street estimates stand at $2.10 for earnings per share (EPS) and $118.3 billion for revenues.
Remarkably consistent, Apple has surpassed EPS forecasts in 7 of the last 8 quarters.
On the downside, however, Wall Street anticipates that the Cupertino-California based giant will report sales of $89.28 billion, a decrease of approximately 1% compared to the corresponding quarter in the previous year. This would mark the fourth consecutive quarterly sales decline for the company.
Going into earnings,
Microsoft/h2
After surpassing the $3 Trillion market-cap line last week, stakes are at a high for the Redmond, Washington-based behemoth when it reports quarterly earnings next Tuesday, the 30th.
Consensus is that the company will post net income of $20.6 billion, or $2.77 per share, compared with $17.4 billion and $2.20 from a year before, respectively.
Should the estimates prove correct, it would mark the highest revenue in seven quarters, coupled with a noteworthy uptick in EPS. Investors are confident that the company's pushes in the AI and cloud spaces will help the giant maintain its momentum.
Going into earnings, Microsoft's Financial Health on InvestingPro scores a 'Great Performance,' with a warning to the company's relative value - suggesting a stretched valuation.
Source: InvestingPro
General Motors/h2
General Motors (NYSE:GM) is expected to report earnings for Q4/23 on Jan 30, before the market opens. Street estimates stand at $1.14 for EPS and $39.5B for revenues.
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