Oppenheimer reiterated its Perform rating on Apple ahead of fiscal fourth-quarter results, warning that the premium valuation leaves little room for earnings disappointment. Analyst Martin Yang forecasts Q4 revenue of $112.9 billion and EPS of $1.96, slightly below consensus of $113.4 billion and $1.99. The bigger concern is fiscal 2027, where his EPS estimate of $8.91 sits about 7% below consensus, as slowing iPhone growth, Services headwinds and memory cost inflation may constrain upside. Counterpoint data shows Pro-series sell-through up 3.1% globally in the first three weeks but down 4% in the U.S. and 27% in Japan, while Oppenheimer expects 5 million to 6 million iPhone Duo shipments in 2026 and 15 million to 20 million in fiscal 2027, potentially cannibalizing Pro and Pro Max sales. The firm also models a 150 basis point hit to products gross margin in the December quarter from higher DRAM and NAND costs.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Apple’s valuation leaves little room for earnings disappointment: Oppenheimer
Read the original on Yahoo Finance ↗
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AAPL
▼ Likely negativeApple Inc.
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Information Technology |
| Industry | Technology Hardware, Storage & Peripherals |
| Market cap | $5.1T |
| Close on 10/30/2026 | 344.79 |
| Change that session | -1.18% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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