Apple (NASDAQ:AAPL) reported earnings for its fourth quarter of Fiscal Year 2022. Earnings per share came in at $1.29, which beat analysts’ consensus estimate of $1.27 per share. In the past nine quarters, the company has beaten estimates nine times.
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Sales increased 8.1% year-over-year, with revenue hitting $90.146 billion. This was higher than the $88.775 billion that analysts were looking for.
However, the company demonstrated operating deleverage since its operating margin contracted from 28.5% to 27.6%. Nevertheless, the company’s operating income grew from $23.79 billion in the comparable period to $24,894 billion now.
What is a Good Buy Price for AAPL Stock?
AAPL has a Strong Buy consensus rating based on 23 Buys, four Holds, and zero Sells assigned in the past three months. The average AAPL stock price target of $183.37 implies 26.48% upside potential.
