Apple Earnings Tonight... Here's What You Need to Know

Apple reports Q4 2023 earnings at 5:00 PM ET

Apple’s ($AAPL) earnings tonight will be key for the entire stock market. As the largest company in the world in terms of market cap, investors look at Apple’s earnings as a sign of overall market health.

Last quarter, Apple missed expectations, posting a third consecutive quarterly sales decline. Analyst estimates expect another quarterly sales decline.

Analyst Estimates:
Revenue: $89.28B
Earnings per Share (EPS): $1.39

A potential indicator of earnings performance:
Yesterday, Qualcomm reported quarterly earnings and significantly beat estimates. The stock opened up over 6% today as a result.

Earnings Recap:
EPS: $2.02 vs. $1.91 estimate
Revenue: $8.67B vs. $8.51 estimate

Qualcomm is a major supplier of chips for Apple’s products, so the quarterly performance of Qualcomm often mirrors Apple’s performance. Based on the strong performance of Qualcomm this quarter, it is possible that Apple’s earnings will also beat estimates.