Wall Street analysts expect Apple Inc. (NASDAQ:AAPL) to report $77.39 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Apple‘s earnings. The highest sales estimate is $82.91 billion and the lowest is $74.72 billion. Apple reported sales of $58.31 billion in the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, April 28th.
According to Zacks, analysts expect that Apple will report full-year sales of $336.77 billion for the current fiscal year, with estimates ranging from $331.62 billion to $341.26 billion. For the next financial year, analysts anticipate that the business will report sales of $350.72 billion, with estimates ranging from $339.49 billion to $358.50 billion. Zacks Investment Research’s sales calculations 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, January 26th. The iPhone maker reported $1.68 EPS for the quarter, beating the Zacks’ consensus estimate of $1.41 by $0.27. Apple had a net margin of 20.91% and a return on equity of 75.15%. The firm had revenue of $111.40 billion for the quarter, compared to analysts’ expectations of $103.24 billion. During the same period in the prior year, the company earned $1.25 EPS. The firm’s revenue was up 21.4% on a year-over-year basis.
A number of research firms have recently commented on AAPL. Evercore ISI raised their price target on Apple from $163.00 to $175.00 and gave the stock an “outperform” rating in a research report on Monday, March 22nd. Sanford C. Bernstein set a $132.00 price target on Apple and gave the company a “neutral” rating in a research report on Monday, March 8th. UBS Group set a $142.00 target price on Apple and gave the company a “buy” rating in a report on Monday. Deutsche Bank Aktiengesellschaft set a $160.00 price target on shares of Apple and gave the company a “buy” rating in a research report on Monday, February 15th. Finally, Canaccord Genuity upped their price target on Apple from $150.00 to $155.00 and gave the company a “buy” rating in a report on Thursday, January 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-eight have given a buy rating to the company. Apple currently has a consensus rating of “Buy” and an average price target of $136.75.
AAPL stock opened at $134.43 on Wednesday. The firm has a 50 day simple moving average of $123.30 and a 200 day simple moving average of $124.19. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.33 and a current ratio of 1.36. Apple has a 52 week low of $66.36 and a 52 week high of $145.09. The stock has a market cap of $2.26 trillion, a P/E ratio of 41.24, a P/E/G ratio of 2.75 and a beta of 1.28.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 11th. Stockholders of record on Monday, February 8th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Friday, February 5th. Apple‘s dividend payout ratio (DPR) is presently 25.00%.
In related news, COO Jeffrey E. Williams sold 133,867 shares of the business’s stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $125.74, for a total value of $16,832,436.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Ironwood Wealth Management LLC. raised its stake in shares of Apple by 304.8% in the third quarter. Ironwood Wealth Management LLC. now owns 12,681 shares of the iPhone maker’s stock valued at $1,469,000 after acquiring an additional 9,548 shares during the period. Walkner Condon Financial Advisors LLC lifted its stake in shares of Apple by 429.5% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 48,398 shares of the iPhone maker’s stock worth $5,605,000 after acquiring an additional 39,258 shares during the last quarter. Sustainable Growth Advisers LP boosted its holdings in Apple by 300.0% during the 3rd quarter. Sustainable Growth Advisers LP now owns 19,556 shares of the iPhone maker’s stock valued at $2,265,000 after acquiring an additional 14,667 shares during the period. Haverford Financial Services Inc. increased its stake in Apple by 289.4% in the third quarter. Haverford Financial Services Inc. now owns 198,077 shares of the iPhone maker’s stock worth $22,939,000 after purchasing an additional 147,213 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Apple by 310.1% during the third quarter. Fisher Asset Management LLC now owns 58,694,648 shares of the iPhone maker’s stock valued at $6,797,427,000 after acquiring an additional 44,382,768 shares in the last quarter. 57.77% of the stock is owned by hedge funds and other institutional investors.
Apple Company Profile
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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