When is Apple's earnings date and what can we expect?

Apple reports Q4 2024 earnings on October 31 after market close. Here's what analysts expect from the world's most valuable company.

The tech giant Apple is forecast to report adjusted earnings per share of $1.593. Revenue expectations stand at $94.215 billion. ​Net income is projected to reach $24.239 billion, while EBITDA is expected to hit $32.851 billion. These figures reflect modest adjustments downward from earlier predictions. ​Analysts will closely watch iPhone sales growth, forecast at 2.5%, as the iPhone 16's reception has been softer than anticipated. This moderate growth suggests a slower upgrade cycle among consumers. ​The company's services segment continues to show promise, with expectations of double-digit expansion that could help maintain healthy operating margins.

​Innovation and artificial intelligence focus

Apple continues to advance its artificial intelligence (AI) capabilities through Apple Intelligence features integrated across its product lineup. This strategic focus demonstrates the company's commitment to innovation. ​Despite these developments, research and development (R&D) expenses are expected to see only modest increases. The company appears to be taking a measured approach to AI investment.

​Operating margins could benefit from this balanced strategy, supported by the growing high-margin services business. This segment has become increasingly important to Apple's financial performance. ​The combination of hardware innovation and services growth provides multiple revenue streams, though market reception remains cautious.

​Capital returns and shareholder value

​Apple is expected to maintain its robust capital return program, with forecasted share buybacks of $25 billion for the quarter. This aligns with recent quarterly averages. ​The company's substantial cash reserves and strong cash flow generation continue to support these shareholder-friendly policies. This financial strength remains a key attraction for investors. ​Current analyst consensus suggests a price target of $245.13, indicating potential upside of 6.2%. The stock maintains a "Moderate Buy" rating with 39 buy, 19 hold, and 2 sell recommendations. ​While Apple shares have gained 19.9% this year, they've lagged behind the broader market's 21.5% advance. This performance gap reflects ongoing concerns about growth prospects.

​H2 Apple earnings – technical analysis

Apple stock has found its form after a tough start to the year. The stock price bottomed out in April around $164.00, and has rallied impressively since then. ​It has recently returned to July record high at $237.00, and while it is weakening in the run-up to earnings the overall uptrend remains intact. A close above $237.00 opens the way to more record highs. Meanwhile, a close below the October low of $221.90 might suggest some further short-term weakness.