Apple Earnings Live Updates: Stocks Fall Despite Revenue, EPS Hit

Goldman sees upcoming AI software for the iPhone as a strength.

Goldman Sachs said in a report last week that it sees “consensus revenue and EPS growth potential driven by outperformance from iPhone and Services.”

Goldman analyst Michael Ng expects the company to report earnings of $1.61 per share and revenue of $94.5 billion, representing year-over-year growth of 6%.

Like other analysts, Ng is focused on the impact of artificial intelligence and all the software features Apple is set to release in the next few months.

“While Apple Intelligence has not yet become a demand driver, we are encouraged by the introduction of Apple Intelligence features in iOS 18.1 (week of October 28 includes writing tools, notification summary, photo cleanup), iOS 18.2 (currently in beta, tentatively for December, includes Genmoji, Image Playground, ChatGPT) and iOS 18.4 (released approximately March 2025, more advanced version). Siripersonalization, on-screen awareness),” Ng said.

Goldman Sachs rates Apple a Buy with a $275 price target.