Apple to report lower than expected second quarter results

Source: www.irishtimes.com --- Sunday, April 30, 2017
Monday Results: BP, Olympus. Indicators: US manufacturing PMI, prices, employment (Apr). Tuesday Results: Apple, Aerie Pharmaceuticals, Geberit (Q1), BNP Paribas, Hilton Worldwide, Hugo Boss, Mastercard, Mondelez International, Pfizer. Indicators: Irish manufacturing PMI (Apr); Euro zone manufacturing PMI (Apr), unemployment (Mar); UK manufacturing PMI (Apr); German manufacturing PMI (Apr). Meetings: International Chambers of Commerce (ICC) Ireland hosts morning with Alexis Mourre, president of ICC Court of Arbitration (Dublin Dispute Resolution Centre, Dublin 7); Bovis Homes AGM (details to be confirmed). Concern prior to Apple results Apple is due to report second-quarter results on Tuesday and there are concerns things may not be quite as good as expected at the company that seems to be unable to do wrong. Both JP Morgan and UBS have told investors results could fall short although buy ratings have remained in place given the optimism surrounding the next iPhone. In a statement reported by CNBC, JP Morgan said it remained bullish on the prospects of the new phone “given what we believe is unprecedented pent-up replacement demand” combined with expectations for a materially different product later this year. “Having said that, we believe FQ3 guidance could be somewhat weak assuming Apple also believes consumers will want to wait for new product availability this fall,” it said in a note to clients. It believes there is a “bett ...

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