Stocks to Watch Next Week – Apple

Over the next five days, nearly a third of the S&P 500 companies, industrial names like Boeing (NYSE:BA) and Caterpillar (NYSE:CAT), as well as tech giants like Facebook (NASDAQ:FB) and Amazon, are with expectations for the rest of this year. It is scheduled to publish its latest figures. Amid strong economic recovery signals, investors are concerned about global supply chain disruptions that are driving prices up and threatening future growth. Nearly 84% of companies that had previously reported exceeded estimates. According to I/B/E/S data from Refinitiv, earnings are expected to increase 34.8% year-on-year so far, based on actual reports and forecasts. During this crucial week for the third quarter earnings season, we'll focus on three key tech giants whose earnings can help clarify whether they're still taking advantage of the pandemic-driven demand boost that has driven their stocks to record highs in recent months:

1. Apple

iPhone maker Apple (NASDAQ:AAPL) will report its fiscal 2021 fourth-quarter earnings on Thursday, October 28, after the market closes. Analysts estimate the company will report, on average, a profit of $1.23 on sales of $84.85 billion. Apple shares haven't moved much in the past three months amid concerns that industry-wide chip shortages and other supply chain issues could weigh on sales, particularly during the critical holiday season. Apple launched new MacBook Pros, a Mac mini, MacBook Airs, new AirPods, new iPads and updated Apple Watches this year to capitalize on the work-from-home environment and growing demand for tech gadgets. But Bloomberg reported last week that customers looking for these devices are facing delays, and the largest sales quarter in Apple's history may be at risk. Apple stock is up more than 11% this year after rising 80% in 2020. Shares closed at $148.69 on Friday.     Stocks to Watch Next Week – Apple Source: Invesing.com You may also be interested in: Here Are 2 Warren Buffett Stocks That Should Be Held Forever.