$84.95 Billion in Sales Expected for Apple Inc. (NASDAQ:AAPL) This Quarter

Wall Street analysts expect that Apple Inc. (NASDAQ:AAPL) will announce $84.95 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Apple’s earnings, with estimates ranging from $83.58 billion to $87.50 billion. Apple reported sales of $64.70 billion during the same quarter last year, which would suggest a positive year over year growth rate of 31.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

According to Zacks, analysts expect that Apple will report full year sales of $367.23 billion for the current financial year, with estimates ranging from $366.01 billion to $369.96 billion. For the next year, analysts anticipate that the company will report sales of $383.90 billion, with estimates ranging from $374.46 billion to $396.35 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Apple.

Apple (NASDAQ:AAPL) last posted its earnings results on Monday, July 26th. The iPhone maker reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.01 by $0.29. The business had revenue of $81.40 billion for the quarter, compared to the consensus estimate of $73.48 billion. Apple had a net margin of 25.00% and a return on equity of 131.01%. The company’s revenue for the quarter was up 36.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 EPS.

A number of research analysts have recently issued reports on AAPL shares. Loop Capital lifted their price objective on shares of Apple from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. DA Davidson lifted their price objective on shares of Apple from $167.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Credit Suisse Group set a $150.00 price objective on shares of Apple in a research report on Monday, September 13th. Jefferies Financial Group assumed coverage on shares of Apple in a research report on Monday, September 13th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Needham & Company LLC assumed coverage on shares of Apple in a research note on Wednesday, July 28th. They issued a “buy” rating and a $170.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $161.68.

In related news, CEO Timothy D. Cook sold 2,386,440 shares of the business’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $148.58, for a total value of $354,577,255.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Deirdre O’brien sold 14,877 shares of the business’s stock in a transaction on Friday, August 6th. The stock was sold at an average price of $145.99, for a total transaction of $2,171,893.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,418,317 shares of company stock valued at $359,229,278. Insiders own 0.06% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of Apple during the second quarter worth $27,000. Milestone Resources Group Ltd grew its holdings in shares of Apple by 57.7% during the second quarter. Milestone Resources Group Ltd now owns 216 shares of the iPhone maker’s stock worth $30,000 after buying an additional 79 shares in the last quarter. Kessler Investment Group LLC grew its holdings in shares of Apple by 585.7% during the second quarter. Kessler Investment Group LLC now owns 576 shares of the iPhone maker’s stock worth $79,000 after buying an additional 492 shares in the last quarter. Pinz Capital Management LP purchased a new stake in shares of Apple during the first quarter worth $72,000. Finally, Geo Capital Gestora de Recursos Ltd grew its holdings in shares of Apple by 135.6% during the first quarter. Geo Capital Gestora de Recursos Ltd now owns 655 shares of the iPhone maker’s stock worth $80,000 after buying an additional 377 shares in the last quarter. 56.38% of the stock is owned by institutional investors and hedge funds.

NASDAQ AAPL traded down $3.12 during trading on Monday, reaching $142.94. 123,305,988 shares of the company’s stock traded hands, compared to its average volume of 91,649,969. The company’s 50 day simple moving average is $148.51 and its two-hundred day simple moving average is $135.78. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.06 and a quick ratio of 1.01. Apple has a 12-month low of $103.10 and a 12-month high of $157.26. The firm has a market cap of $2.36 trillion, a price-to-earnings ratio of 27.97, a price-to-earnings-growth ratio of 2.10 and a beta of 1.20.

The company also recently announced a quarterly dividend, which was paid on Thursday, August 12th. Stockholders of record on Monday, August 9th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, August 6th. Apple’s dividend payout ratio (DPR) is 26.83%.

About Apple

Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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