Apple earning may be good...but guidance will kill its upward move...that will be thee start of another full leg down. Apple is a prime earnings number for many investors.
Supply chain planning may take time to respond to the demand downturn. RAM, display module and microprocessor lead time is rather long. So, what to do with the inventory? Cut price and push sales ? Demand downturn has wide implication.
Wow..apple pulled out some unexpected. Maybe more left in this bounce toward the mean. Anyway...Christmas is their best time regarding sales. Net Income was probably pulled way forward to help the Fed manage this sell off. However, guidance was WAY over-stated. Labor and supply disruption will certainly take a big toll. If you read Tesla earnings report...this one is probably exactly the same. Better Revenues, better net Income (both probably overstated by apple accounting) and guidance outlook murky because of major supply issues and much higher labor plus labor shortages.