Apple Inc

AAPL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$168.00	Bclg	Sbkblkynfk

Apple Earnings: Steady Business Conditions as Next Wave of iPhones Is on Deck; Maintain Valuation

Brian Colello

Aug 4, 2023

Wide-moat Apple reported solid results for its fiscal third quarter and provided investors with a flattish outlook for the fourth quarter. We continue to take Apple’s results in both the June and September quarters with a grain of salt as they are composed of the older iPhone series; we would instead keep our eyes on the next wave of Apple devices and whether the company can entice a larger portion of its customer base to buy the latest and greatest iPhone.

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