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.
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.
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.
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