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Barchart
Aditya Raghunath

3 Mega-Cap Stocks Analysts Like Better Than Apple

Apple Nvidia Amazon Microsoft AAPL Google NVDA

Shares of Apple (AAPL) once again sold off after the company announced its quarterly results last week. The tech giant reported revenue of $89.5 billion and adjusted earnings of $1.46 per share in fiscal Q4 of 2023 (ended in September). While Apple surpassed consensus estimates for revenue of $89.28 billion and earnings of $1.39 per share, its sales have now declined for four consecutive quarters. 

Its iPhone business segment was the only hardware business that reported sales growth in Q4, and investors appear wary as the company lacks a clear path to growth this holiday season after several quarters of revenue shrinkage. Moreover, while Wall Street analysts expected Apple to increase revenue by 5% in Q1 of fiscal 2024, the tech behemoth estimated flat top-line growth compared to the year-ago period. 

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