Apple Inc. (AAPL) Expected to Post Quarterly Sales of $61.17 Billion

Share on StockTwits

Wall Street analysts expect that Apple Inc. (NASDAQ:AAPL) will announce $61.17 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Apple’s earnings, with estimates ranging from $60.36 billion to $62.13 billion. Apple posted sales of $52.58 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 16.3%. The firm is expected to report its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Apple will report full year sales of $263.85 billion for the current fiscal year, with estimates ranging from $263.05 billion to $264.83 billion. For the next fiscal year, analysts expect that the business will report sales of $275.43 billion per share, with estimates ranging from $264.63 billion to $289.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Apple.

Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.18 by $0.16. The company had revenue of $53.27 billion for the quarter, compared to analyst estimates of $52.43 billion. Apple had a return on equity of 43.50% and a net margin of 21.98%. Apple’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 earnings per share.

A number of brokerages have recently issued reports on AAPL. BidaskClub lowered Apple from a “buy” rating to a “hold” rating in a research report on Wednesday. New Street Research reaffirmed a “sell” rating on shares of Apple in a research report on Tuesday. Rosenblatt Securities set a $200.00 target price on Apple and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird reaffirmed a “buy” rating and set a $230.00 target price on shares of Apple in a research report on Monday. Finally, UBS Group set a $250.00 target price on Apple and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty-nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $217.53.

In other Apple news, COO Jeffrey E. Williams sold 15,652 shares of the business’s stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $190.18, for a total value of $2,976,697.36. Following the transaction, the chief operating officer now owns 125,258 shares in the company, valued at $23,821,566.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy D. Cook sold 265,160 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $217.79, for a total value of $57,749,196.40. The disclosure for this sale can be found here. Insiders sold 378,400 shares of company stock worth $81,052,754 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of AAPL. Summit Trail Advisors LLC lifted its position in shares of Apple by 17,669.4% during the 1st quarter. Summit Trail Advisors LLC now owns 20,180,694 shares of the iPhone maker’s stock worth $20,181,000 after purchasing an additional 20,067,124 shares during the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Apple by 18,553.3% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 16,758,709 shares of the iPhone maker’s stock worth $89,526,000 after purchasing an additional 16,668,866 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Apple during the 1st quarter worth about $830,026,000. Private Advisor Group LLC lifted its position in shares of Apple by 1,185.5% during the 2nd quarter. Private Advisor Group LLC now owns 4,320,770 shares of the iPhone maker’s stock worth $800,386,000 after purchasing an additional 3,984,643 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Apple during the 2nd quarter worth about $706,904,000. Hedge funds and other institutional investors own 58.54% of the company’s stock.

Shares of Apple stock opened at $220.03 on Friday. The firm has a market cap of $1,072.68 billion, a PE ratio of 24.02, a P/E/G ratio of 1.92 and a beta of 1.33. The company has a current ratio of 1.31, a quick ratio of 1.24 and a debt-to-equity ratio of 0.84. Apple has a 12-month low of $149.16 and a 12-month high of $229.67.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

Featured Story: Closed-End Mutual Funds

Get a free copy of the Zacks research report on Apple (AAPL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Apple (NASDAQ:AAPL)

Receive News & Ratings for Apple Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apple and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.