Is Apple Stock a Buy Now?
Big technology companies, such as Meta Platforms and Microsoft, are having a horrid time on the stock market this earnings season thanks to the macroeconomic slowdown, but Apple (NASDAQ: AAPL) dodged a bullet and avoided a big sell-off when on Oct. 27 it released its fiscal 2022 fourth-quarter results (for the three months ended Sept. 24).
The technology giant's revenue and earnings beat Wall Street's estimates despite what Apple's CFO termed "a challenging and volatile macroeconomic backdrop." The company's revenue was up 8% year over year to $90.1 billion, while adjusted earnings increased 4% to $1.29 per share. Analysts would have settled for $1.27 per share in earnings on $88.7 billion in revenue, but the healthy demand for iPhones, MacBooks, and wearable devices, along with the growth in Apple's services business, helped it post stronger results.
The iPhone moved the needle in a big way for Apple last quarter, and the device is the biggest reason why this tech giant looks worth buying at a time when other big names have fallen by the wayside. Let's see why.
Source Fool.com
