The Week Ahead: Apple shareholders hope stellar results will stop its rotten run
Number crunchers at Credit Suisse cut their quarterly iPhone 6s sales estimates for the second time last week
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Your support makes all the difference.Apple is the standout name reporting this week, as shareholders of the world’s most valuable public company hope stellar results will stop its rotten run.
The iPhone-maker’s first quarter earnings, due out tomorrow evening, will be closely scrutinised as the three months over Christmas covers its most important trading period of the year.
Number crunchers at Credit Suisse cut their quarterly iPhone 6s sales estimates for the second time last week, which hit Apple’s Nasdaq-listed shares.
More than $200bn (£140bn) has been wiped off the company’s value in six months amid concerns about slowing growth in China, which is now the world’s largest smartphone market, and a general technology sell-off this year. Apple is still expected to post the best quarterly figures in its history, but the bar is set so high that even a small sign that its popularity is on the wane could send the share price tumbling. Wall Street analysts are predicting earnings per share of $3.23, up from $3.06 a year ago.
Other American technology giants, Facebook and eBay report fourth quarter results on Wednesday, while Amazon unveils its financial figures the day after.
In the UK, BT, whose £12.5bn takeover of EE got the green light from regulators earlier this month, is due to release third quarter results on Friday.
Diageo is scheduled to serve up half-year results on Thursday, while Britvic has a trading statement due out on Wednesday.
Embattled miners Petra Diamonds, Antofagasta and Anglo American have updates out today, Wednesday and Thursday respectively.
Online estate agent Purplebricks releases its first set of results since floating tomorrow, with annual results from housebuilder Crest Nicholson also pencilled in.
On Thursday shareholders vote on the future of JKX Oil & Gas, the London-listed oil firm which drills in Russia and Ukraine. Proxima, a vehicle run by Vladimir Tatarchuk, a Russian businessman with close ties to oligarch Mikhail Fridman, wants to seize control of the company by getting rid of seven directors and installing five of its own, after a 90 per cent slump in the company’s value in five years.
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