Apple Q3 FY9/24 Earnings Review
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The Recession Has Yet To Hit Cupertino
by Alex King, CEO, Cestrian Capital Research, Inc
Apple printed its Q3 yesterday, and a very good Q3 it was too. Everywhere you look at present there is talk of the weak consumer, recession, and so on and so forth. Well, Apple - a consumer-driven business - just delivered an acceleration in revenue growth to +5% for the quarter vs. prior year quarter, at a time when most other stocks we cover - in the main whose issuers sell to enterprise customers ergo you would expect are more resilient - are seeing deceleration in growth rates.
We remain at Hold rating on Apple - below we run through detailed fundamentals, valuation analysis, technical analysis and our price targets.
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Everything good there.