$62.55 Billion in Sales Expected for Apple Inc. (NASDAQ:AAPL) This Quarter

Share on StockTwits

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.

AAPL has been the topic of several analyst reports. Bank of America reissued a “buy” rating and set a $250.00 price objective (up from $240.00) on shares of Apple in a research note on Wednesday, September 11th. Loop Capital upped their target price on Apple to $200.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. ValuEngine raised Apple from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Rosenblatt Securities set a $150.00 target price on Apple and gave the company a “sell” rating in a research note on Friday. Finally, Goldman Sachs Group cut their target price on Apple from $187.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday. Four research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $217.25.

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.

About Apple

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.

Featured Article: What is the Dividend Aristocrat Index?

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

SOTHERLY HOTELS/SH SH  Upgraded by Zacks Investment Research to Hold
SOTHERLY HOTELS/SH SH Upgraded by Zacks Investment Research to Hold
Solaredge Technologies  Lowered to Hold at Zacks Investment Research
Solaredge Technologies Lowered to Hold at Zacks Investment Research
Resonant  Upgraded to “Hold” at Zacks Investment Research
Resonant Upgraded to “Hold” at Zacks Investment Research
Portola Pharmaceuticals  PT Lowered to $44.00
Portola Pharmaceuticals PT Lowered to $44.00
UltraNote Coin Reaches Market Cap of $13,486.00
UltraNote Coin Reaches Market Cap of $13,486.00
FS KKR Capital Corp  Receives $7.63 Consensus PT from Analysts
FS KKR Capital Corp Receives $7.63 Consensus PT from Analysts


© 2006-2019 Ticker Report