Shares of Apple (NASDAQ:AAPL) fell 1.43% in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $1.46, which beat analysts’ consensus estimate of $1.39 per share.
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Sales decreased by 0.7% year-over-year, with revenue hitting $89.46. This beat analysts’ expectations of $89.28 billion.
The tech giant’s iPhone sales of $43.81 billion were in line with Wall Street projections and climbed by more over 2% year on year. Likewise, iPad sales of $6.44 billion also beat analysts’ expectations of $6.07 billion. However, revenue from Apple’s MaC segment slipped, coming in at $7.61 billion against an expected $8.63 billion.
Is Apple a Buy or Sell Right Now?
Analysts remain bullish on AAPL stock with a Moderate Buy consensus rating based on 13 Buys and eight Holds. Furthermore, the average AAPL price target of $206.70 per share implies a 16.48% upside potential.
