Evercore forecasts ‘modest upside’ for Apple Q1 2024

Apple’s first-quarter results should provide modest upside’ for investors, a note from Evercore analysts believes, with continued high Services growth and risk in China at the forefront of investor thoughts for the company.

Apple’s holiday quarter earnings will be announced on February 1, and will detail the finances of the iPhone maker during its typically busy period. In a pre-results note to investors seen by AppleInsider, the results should be the start of an improved outlook for Apple throughout the rest of the year.

The note forecasts that Apple’s revenue will reach $117 billion, the same ballpark as the year-ago quarter, and slightly below its consensus estimate of $118 billion. For Earnings Per Share, Evercore puts the figure at $2.08, up year-on-year from $1.88, and just below the $2.10 consensus.

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