AP Photo/J. Scott Applewhite
- Apple reports its fourth-quarter earnings after the bell Thursday.
- Users of the investment app Robinhood are bearish on the company and are selling their shares more than they are buying.
- Wall Street is more optimistic as most analysts rate Apple a “buy.”
- Watch Apple’s stock price move in real time here…
Apple is set to report its fourth-quarter earnings on Thursday after the bell, and millennial investors aren’t very optimistic about the outcome.
Investors using the Robinhood app, which is popular with millennials, are selling shares of Apple more than they are buying them in the week before Apple’s earnings, according to Sahill Poddar, a data scientist at Robinhood. Last earnings report, Robinhood users were buying 2% more than they were selling, and now they are selling 20% more than buying.
For younger Robinhood users, the ratio is a bit more Apple-friendly, as those under 30 were buying shares of Apple 10% more than they are selling. Those over 30, though, are selling 30% more than they are buying.
Apple is the most popular company among users of the app, judged by the number of investors that have a position in the company.
Wall Street disagrees with the young retail investors on Robinhood. Of the 48 surveyed by Bloomberg, 36 analysts rate Apple a “buy” and zero rate the company a “sell”.
Wall Street is expecting Apple to report adjusted earnings of $1.87 per share on revenue of $50.700 billion in the company’s fourth quarter.
Apple is up 44.53% this year.