Apple (NASDAQ:AAPL) is gearing up to unveil its Q1/24 earnings report on February 1, after the market closes.
Analysts’ consensus estimates place earnings per share (EPS) at $2.10 and revenues at $118.3 billion. Remarkably, Apple has consistently outperformed EPS forecasts in seven out of the last eight quarters.
On the flip side, Wall Street anticipates a slight dip in sales, with expectations set at $89.28 billion, marking a 1% decrease compared to the previous year’s corresponding quarter.
This would mark the company’s fourth consecutive quarterly sales decline. Concerns have also arisen regarding Apple’s high multiples and weakening margins, as highlighted by our flagship ProTips tool.
Apple recently ceded its title as the world’s largest company by market share to rival Microsoft (NASDAQ:MSFT), whose earnings report is due on the 30th.
Insights from both tech giants’ earnings reports are expected to shape the direction of the tech sector.
Microsoft is expected to report net income of $20.6 billion, or $2.77 per share, compared to $17.4 billion and $2.20 in the previous year.
These estimates, if realized, would signify the highest revenue in seven quarters and a significant uptick in EPS, driven by investments in AI and cloud spaces.
Turning to General Motors (NYSE:GM), the company is set to release its Q4/23 earnings report on January 30, before the market opens. Analysts’ projections stand at $1.14 for EPS and $39.5 billion for revenues. ProTips point out General Motors’ strengths, including upward revisions by six analysts, a favorable P/E ratio relative to near-term earnings growth, a strong free cash flow yield, and an attractive earnings multiple.
Amazon (NASDAQ:AMZN) is slated to report its Q4/23 earnings on February 1, after the market closes. Wall Street expects an EPS of $0.79 and revenues of $166.3 billion.
ProTips indicate that Amazon’s multiples appear stretched, suggesting potential downside risk if it deviates from expectations.
Additionally, BMO Capital initiated coverage on Amazon with an Outperform rating and a $200.00 price target in January, while DA Davidson Tesla initiated coverage with a Buy rating and a $195.00 price target.
Mastercard (NYSE:MA) is set to unveil its Q4/23 earnings on January 31, before the market opens. Analysts anticipate an EPS of $3.08 and revenues of $6.48 billion.
In January, Oppenheimer upgraded Mastercard from Perform to Outperform with a $510.00 price target. InvestingPro’s Financial Health section ranks Mastercard as exhibiting ‘Great Performance.’
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