Why this expert believes Omicron could mess up Apple’s “important holiday season” plans – Apple (AAPL)

Why this expert believes Omicron could mess up Apple's "important holiday season" plans - Apple (AAPL)

Points Highlighted:

  • Why It Matters: Gurman noted that Wall Street expects Apple’s revenues to approach $118 billion and meeting this target would require a combination of good supply, strong demand, and Omicron “not throwing a wrench in the economy during the holiday season.”

  • “The new variant could potentially limit foot traffic at retail stores, and combined with price hikes for food and gas, that could have an impact on sales in the all-important holiday season,” wrote Gurman.

Apple’s fourth-quarter revenues missed the consensus estimate of $84.55 million in October. The Cupertino, California-based tech giant reported $83.4 billion in revenues at the time.

Even so, the buzz surrounding “Apple Car” took the tech giant’s shares to record highs last month.

Supply chain issues and power conservation measures in China were attributed by Loup Funds Managing Partner Gene Munster for the fall in Apple Sales.

Gurman said in November that Apple’s car plans have gone “full throttle” under the watch of Kevin Lynch, the Apple Watch software chief.

Price Action: On Friday, Apple shares closed nearly 1.2% lower at $161.84 in the regular session and fell almost 0.4% in the after-hours session.

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