These Tech Bigwigs Are Set To Beat Earnings This Week
Zacks Investment Research | Jan 27, 2020 05:51AM ET
With Tech stealing the show in the last earnings season, all eyes are on the sector this time around. With threats of a U.S.-China trade war on the back burner, investors’ sentiments on the tech sector have bolstered as many U.S. tech companies have considerable exposure to China.
Needless to say, tech hardware segment currently leads the sector, the most prominent name being Apple Inc. (NASDAQ:AAPL) . The company is slated to report first-quarter fiscal 2020 earnings on Jan 28, after market close. Despite the global economic slowdown, iPhone sales rose in December 2019 and iPhone 11 is widely expected to have seen strong demand in the last three months of 2019. All these have likely boosted the company’s top line. The company is, thus, projected to report revenue growth of more than 4% on a year-over-year basis.
Its services and wearables segment, which includes products such as Apple Watch, Air Pods, and Beats earphones, has been doing pretty well. In the fiscal first quarter, the company’s wearables segment is expected to have become Apple’s biggest earnings growth driver. Apple forecasts earnings growth of more than 8% year over year. Wearables segment revenues jumped more than 50% on a year-over-year basis in the fourth-quarter fiscal 2019. And Apple Watch’s market share surged to 48% in the quarter from 45% in the preceding quarter.
Needless to say, the company did so well in the final three months of 2019 that its goal of $51 billion in services revenues seems much within reach. Additionally, Apple currently has an Zacks Investment Research
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