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Today we are watching…
1. Starbucksย (#sbux)
The 2020 Lunar New Year is not panning out as Starbucks had hoped. The chain has a quarter of its 24,000-store empire in China, where new mobile ordering and delivery offerings have been launched. The Chinese New Year was set to be a chockablock period for the coffee brand and a big earner for investors. However, analysts are now bracing themselves for the worst in todayโs earnings release. Guggenheimโs Matt DeFranco thinks, โStarbucks has the greatest exposure to the coronavirus as measured by percentages of revenue and income.โ He joins the bearish consensus estimating just $0.76 in profit per share on $7.09 billion in sales. If Starbucks pulls the rabbit from the hat, though, shareholders will rejoice in massive gains!
2. Apple (#aapl)
As markets recoil from the coronavirus outbreak, Apple delivers quarterly numbers amid some of its worst trading sessions in months! iPhone 11 sales rely on Chinese demand and will be of significant interest to investors. However, CEO Tim Cookโs other big test today relates to Apple TV+ and wearables. Shares rise highest when Apple upgrades its own profit prospects for the year in โforward guidance.โ Thatโs what investors are keen to hear when the Silicon Valley giant takes a swing at analystsโ forecasts after the bell. Itโs aiming for $4.54 in earnings per share on $87.74 billion in top-line sales!