Of 45 analysts covering Apple, 34 have a Buy or Strong Buy rating and another nine rate it at Hold. At a recent price of around $168.50 a share, the upside potential based on a median price target of $174.50 is about 3.6%. At the high price target of $210.00, the upside potential is 24.6%.
Analysts expect the Dow component to report second-quarter fiscal 2023 revenue of $92.84 billion, which would be down 20.8% sequentially and by 4.6% year over year. Adjusted EPS are expected to come in at $1.43, down almost 24% sequentially and 5.9% lower year over year. For the full fiscal year that ends in September, analysts expect the company to report EPS of $5.97, down 2.3%, on sales of $389.2 billion, down 1.3%.
Apple stock trades at 28.2 times expected 2023 EPS, 25.6 times estimated 2024 earnings of $6.58 and 23.6 times estimated 2025 earnings of $7.14 per share. The stock’s 52-week trading range is $124.17 to $176.15. Apple pays an annual dividend of $0.92 (yield of 0.54%). Total shareholder return for the past 12 months was 7.34%.
Block
Over the past 12 months, Block Inc. (NYSE: SQ) has seen its share price fall by about 44%, including a decline of 8.1% since the beginning of the year. Since posting a 52-week low in early November, the shares have risen about 12.5%.
In late March, short seller Hindenburg Research issued a report on Block accusing the Jack Dorsey-led firm once known as Square of having “systematically taken advantage of the demographics it claims to be helping.” Block’s stock dropped nearly 15% on the day the report was released and has never recovered. The shares are down more than 20% since the report dropped. According to Fintel data, just 5.4% of Block’s float is sold short.
Analysts remain mostly bullish on the shares, with 32 of 45 brokerages having a rating of Buy or Strong Buy. Another 11 rate the stock at Hold. At a price of about $57.80 a share, the upside potential based on a median price target of $93.00 is 60.1%. At the high price of $150.00, the upside potential is almost 160%.
First-quarter revenue is forecast at $4.6 billion, up 54% sequentially and by 16.2% year over year. Adjusted EPS are expected to come in at $0.34, down 29% sequentially but up 88.9% year over year. For the full 2023 fiscal year, estimates call for EPS of $1.72, up 71.8%, on sales of $20.05 billion, up 14.4%.
Block’s shares trade at 33.5 times expected 2023 EPS, 23.7 times estimated 2024 earnings of $2.43 and 17.6 times estimated 2025 earnings of $3.27 per share. The stock’s 52-week range is $51.34 to $108.00. Block does not pay a dividend. The total shareholder return for the past year was negative 45.58%.
Originally published at 24/7 Wall St.
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