Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Adam Eckert

A Bull And Bear Debate What To Expect From Apple Earnings After The Close

Apple Inc (NASDAQ:AAPL) is set to announce its fiscal second-quarter financial results after the market closes on Thursday.

Here's a look at a bull and bear's perspective on what to expect from the tech giant after the bell.

The Bull Take: Market Rebellion co-founder Jon Najarian doesn't necessarily expect a blowout number from Apple, but he wouldn't be surprised if the stock jumped on the report, similar to the move in Meta Platforms Inc (NASDAQ:FB) stock following its quarterly results.

"As Meta showed you, you don't really need blow-off numbers after stocks have been hit pretty good," Najarian said Thursday on CNBC's "Fast Money Halftime Report."

Apple shares have fallen about 7% over the last month, according to data from Benzinga Pro. Najarian expects Apple to show continued strength in demand for its wearables, services and even its health-related products.

"I think this will be a very good quarter and I think stable numbers are very good for the market here," Najarian said. He owns Apple stock and call options and plans to hold through earnings.

The Bear Take: Short Hills Capital's Steve Weiss acknowledged he doesn't expect the stock to fall significantly, but Apple's report will be telling of the state of the consumer, he said, questioning whether or not the average consumer will be able to continue to afford iPhone upgrades amid rising inflation and geopolitical uncertainty.

"I'm a little concerned about it and I'm a little concerned about it going forward because I see the consumer being bifurcated and a large part of their base are consumers that don't have that inelastic spending ability," Weiss said.

See Also: Why Apple May Skip Issuing Guidance On Q2 Earnings Call — And Not Talk About China Risks

He told CNBC that he is holding puts on Apple into earnings after the close. 

AAPL Price Action: Apple has traded between $122.25 and $182.94 over a 52-week period. The stock was up 4.2% at $163.17 at press time.

Photo: courtesy of Apple.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.