Equities analysts expect Apple Inc. (NASDAQ:AAPL) to post $62.55 billion in sales for the current quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Apple’s earnings. The lowest sales estimate is $62.30 billion and the highest is $62.85 billion. Apple reported sales of $62.90 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.6%. The company is expected to announce its next quarterly earnings report on Thursday, November 7th.
On average, analysts expect that Apple will report full-year sales of $258.28 billion for the current financial year, with estimates ranging from $254.74 billion to $259.50 billion. For the next year, analysts forecast that the company will post sales of $268.01 billion, with estimates ranging from $255.69 billion to $275.84 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Apple.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 30th. The iPhone maker reported $2.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.10 by $0.08. Apple had a return on equity of 52.13% and a net margin of 21.50%. The company had revenue of $53.81 billion for the quarter, compared to analysts’ expectations of $53.39 billion. During the same period in the previous year, the firm posted $2.34 earnings per share. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis.
In other Apple news, CEO Timothy D. Cook sold 265,160 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $206.17, for a total transaction of $54,668,037.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arthur D. Levinson sold 17,500 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $214.02, for a total value of $3,745,350.00. Following the sale, the director now owns 1,150,783 shares of the company’s stock, valued at approximately $246,290,577.66. The disclosure for this sale can be found here. Insiders sold 304,536 shares of company stock valued at $62,894,611 in the last quarter. 0.05% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of AAPL. Semmax Financial Advisors Inc. purchased a new stake in shares of Apple during the 4th quarter valued at $50,000. Avondale Wealth Management lifted its holdings in shares of Apple by 25.4% during the 2nd quarter. Avondale Wealth Management now owns 316 shares of the iPhone maker’s stock valued at $63,000 after purchasing an additional 64 shares during the last quarter. NuWave Investment Management LLC lifted its holdings in shares of Apple by 2,245.0% during the 2nd quarter. NuWave Investment Management LLC now owns 469 shares of the iPhone maker’s stock valued at $93,000 after purchasing an additional 449 shares during the last quarter. Horan Securities Inc. lifted its holdings in shares of Apple by 64.2% during the 2nd quarter. Horan Securities Inc. now owns 565 shares of the iPhone maker’s stock valued at $112,000 after purchasing an additional 221 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its holdings in shares of Apple by 339.1% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 764 shares of the iPhone maker’s stock valued at $151,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 58.63% of the company’s stock.
Shares of NASDAQ AAPL opened at $219.90 on Thursday. The business’s 50 day moving average is $208.04 and its two-hundred day moving average is $197.38. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.50 and a quick ratio of 1.47. Apple has a 1-year low of $142.00 and a 1-year high of $233.47. The stock has a market capitalization of $988.57 billion, a P/E ratio of 18.46, a PEG ratio of 1.81 and a beta of 1.24.
Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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