TMTB: AAPL Bogeys; Mid-morning Movers

Early one today as I won’t be around during the close. Key report will be AAPL, where sentiment has improved somewhat over the past couple weeks but still remains subdued. Not much expected from the q or the guide as investors more focused on AI strategy/next iPhone cycle and go-forward catalysts around that rather than Q1 or Q2. A good result will go a long way to help bridge time between now and those catalysts arriving and get bulls more excited about the path forward. Not sure a bad result would do much to get nascent bulls off their horse given the above.

Buyside Bogeys:

Q2: Rev: $90B; EPS $1.50; iPhone revs ~$46B

Q3: rev guide flat to +1% growth y/y (street at +2%). Investors more focused on AI strategy going forward and incremental color on China demand, which has weighed on sentiment.