Apple 1Q23: By the Numbers, The FX Factor, My Apple Earnings Theory (Daily Update)

Hello everyone. Today's special Friday edition of the Daily Update will be focused on reviewing Apple's earnings. The idea is to keep things broad and look at the big picture. We also examine how Apple’s results compared to Neil’s expectations. The earnings discussion will continue next week. Let's jump right in.

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Apple 1Q23: By the Numbers

We knew 1Q23 was going to be a noisy quarter for Apple. Along those lines, we didn’t get too many surprises. Results were all over the place. iPhone results missed my estimate by $5.0B while iPad beat by $1.5B.

Heading into earnings, the questions were found with Apple’s 2Q23 guidance. This is where management commentary

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