Tech Stock Gains 46% YTD: Is There More Upside Left?

[Investing Insights Daily]( November 29th, 2023 [Tech Stock Gains 46% YTD: Is There More Upside Left?]( The tech behemoth Apple Inc. ([AAPL]( – [Get Rating]( gained 13.2% over the past month and 46.5% year-to-date, closing the last trading session at $190.40. However, the company revealed its fourth consecutive quarter of declining revenue for the most recently reported quarter and cautioned investors expecting growth for the current quarter. Let us understand this in detail… In its latest fiscal fourth-quarter earnings report, AAPL [surpassed analyst predictions]( for sales and earnings per share. Despite this success, the sales marked a fourth consecutive quarterly decline. Every hardware segment, excluding the iPhone, exhibited a year-over-year contraction. Despite beating analyst estimates in its fiscal 2023 fourth quarter, AAPL has cautioned investors against anticipating revenue growth in the December quarter, traditionally its peak period. CEO Tim Cook acknowledged the [superior early performance]( of the iPhone 15 compared to the iPhone 14. Nonetheless, revenue declined about 1% from the previous year to $89.50 billion, marking the fourth consecutive quarter of contraction. This represents the first such prolonged decline for AAPL since the period preceding the launch of the iPhone in 2007. Moreover, the company, known for consistently holding [one of the largest cash reserves]( in the United States, currently possesses $162.1 billion in cash. This marks a decrease from its fiscal third quarter of 2023, where it reported cash of $166.5 billion, and its fiscal second quarter in 2023, where it had approximately $166.3 billion in cash. In addition, AAPL has proposed to Goldman Sachs ([GS]( – [Get Rating]( to conclude their [credit card and savings account partnership]( within the next 12 to 15 months. If implemented, this move would terminate one of the most prominent partnerships between a bank and a technology company, signifying a notable shift in collaboration dynamics. This implies that AAPL would need to seek an alternative financial partner for its Apple Card and high-yield savings accounts bearing the Apple brand. The partnership has… Continue reading at [STOCKNEWS.com]( NOTE: If URLs do not appear as live links in your e-mail program, please cut and paste the full URL into the location or address field of your browser. [Privacy Policy]( | [Terms & Conditions]( This email contains a paid advertisement.This is not a solicitation for the purchase or sale of securities. Readers are encouraged to conduct their own research and due diligence, and/or obtain professional advice, prior to making any investment decision. Advertisements and sponsorships are provided as a service to Stock News users. Stock News is not responsible for their content, services or products. The statements and opinions contained in this advertisement are not those of Stock News, and Stock News disclaims any liability for or arising from such statements and opinions. You are hereby advised that Stock News is receiving a fee as compensation for the distribution of this advertisement. [Click here to unsubscribe]( Copyright © 2023 Investing Insights Daily News, part of StockNews.com - POWR Stock Rating, Market Outlook & Investment Insights Magnifi Communities, 1 Penn Plaza, Suite 3910, New York, NY 10019