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Record Dollar Headwinds And FAAMG: Apple Q3 In Focus

Aug. 02, 2022 10:06 AM ETApple Inc. (AAPL)8 Comments


  • Apple just reported another record quarter, setting a new revenue record of $83.0 billion in its FY Q3.
  • The numbers would have been even stronger in constant dollar terms.
  • Indeed, all tech giants are experiencing and anticipating strong headwinds from record dollar strengthening.
  • You will see in detail how currency headwinds impact Apple (and the rest of the FAAMG stocks too).
  • You will also see why I think Apple’s guidance is on the conservative side, setting the stage for a positive surprise for incoming quarters.
  • I do much more than just articles at Envision Early Retirement: Members get access to model portfolios, regular updates, a chat room, and more. Learn More »

World Currency Rates


Q3 highlights and Thesis

My last article on Apple (NASDAQ:AAPL) is co-produced with Envision Research last month. The goal of that article is to pay tribute to Jony Ive after I read the news that the

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This article was written by

Sensor Unlimited profile picture

** Disclosure** I am associated with Envision Research

I am an economist by training, with a focus on financial economics. After I completed my PhD, I have been professionally working as a quantitative modeler, with a focus on the mortgage market, commercial market, and the banking industry for more than a decade. And at the same time, I have been managing several investment accounts for my family for the past 15 years, going through two market crashes and an incredible long bull market in between. 

My writing interests are mostly asset allocation and ETFs, particularly those related to the overall market, bonds, banking and financial sectors, and housing markets. I have been a long time SA reader, and am excited to become a more active participator in this wonderful community! 

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (8)

What is FAAMG
There are so many financial entities that see a big drop coming for Apple. But, those worshippers of it see nothing but upside ahead. The day of reckoning will come, and unless you have low cost basis, you'll be at threat of losing a sizeable amount of your investment.
consultnick profile picture
@Technosemi As an investor in the world economy, which if you are an APPL investor, you most certainly are--everyday is a "day of reckoning"! Long-term, the gods have favored the AAPL long term investor, while punishing the weak-knee'd, who try to market-time by flitting in and out of the greatest business name in history. And their wings get clipped every time....while AAPL itself and brilliant long term investors like Buffett scoop up their shaken-out shares.

And that just happened yet again....
@Technosemi I’ve been hearing talk like this since 2010. Also……. There are no “experts” in the market. Nobody knows what will happen tomorrow. You have to make your own calls.
Options Action, Tony Zhang, the young but usually right on target, is one who sees AAPL on course for a sizeable drop.

You do have to make your own calls. But AAPL is going down every day now, so it's hard to know what is going to happen. I don't trust Tim Cook who seems to cleverly push the AAPL narrative with things like their WATCH, their chips, etc., etc. Despite their partnerships with other companies, I see all this as a way to artificially prop up the stock. Yeah, they have a load of cash - I know the whole spiel, but it doesn't smell right.

Notice how Wedbush raises the price target a few dollars today, and it makes you think there are unscrupulous connections between analysts and AAPL. Well, that's certainly no new news - analysts can move the market by simply plastering a new price target on a stock... We should all know those games by now.
What can you say!?!?! Lol
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