$52.37 Billion in Sales Expected for Apple Inc. (AAPL) This Quarter

Wall Street analysts forecast that Apple Inc. (NASDAQ:AAPL) will announce sales of $52.37 billion for the current quarter, Zacks reports. Eight analysts have provided estimates for Apple’s earnings. The highest sales estimate is $52.80 billion and the lowest is $51.74 billion. Apple posted sales of $45.41 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The firm is expected to announce its next quarterly earnings report after the market closes on Tuesday, July 31st.

According to Zacks, analysts expect that Apple will report full year sales of $260.18 billion for the current financial year, with estimates ranging from $258.63 billion to $262.14 billion. For the next financial year, analysts expect that the business will post sales of $268.67 billion per share, with estimates ranging from $255.33 billion to $280.76 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Apple.

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Apple (NASDAQ:AAPL) last announced its earnings results on Tuesday, May 1st. The iPhone maker reported $2.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.69 by $0.04. The firm had revenue of $61.14 billion for the quarter, compared to the consensus estimate of $60.94 billion. Apple had a return on equity of 39.97% and a net margin of 21.55%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.10 EPS.

AAPL has been the topic of several recent research reports. Nomura reaffirmed a “neutral” rating and set a $175.00 target price on shares of Apple in a report on Monday, March 19th. Vetr raised Apple from a “buy” rating to a “strong-buy” rating and set a $191.57 target price on the stock in a report on Friday, March 23rd. Bank of America reaffirmed a “buy” rating and set a $220.00 target price on shares of Apple in a report on Friday, March 23rd. UBS Group set a $190.00 target price on Apple and gave the stock a “buy” rating in a report on Tuesday, March 27th. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a $159.00 target price on shares of Apple in a report on Wednesday, March 28th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $208.11.

Apple traded up $0.54, hitting $191.45, during midday trading on Friday, according to MarketBeat Ratings. 15,459,546 shares of the company were exchanged, compared to its average volume of 31,600,102. The company has a market capitalization of $970.81 billion, a PE ratio of 20.79, a PEG ratio of 1.54 and a beta of 1.24. Apple has a 1-year low of $147.30 and a 1-year high of $194.20. The company has a current ratio of 1.46, a quick ratio of 1.37 and a debt-to-equity ratio of 0.80.

Apple announced that its Board of Directors has approved a share repurchase plan on Tuesday, May 1st that permits the company to repurchase $100.00 billion in shares. This repurchase authorization permits the iPhone maker to repurchase up to 11.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In related news, COO Jeffrey E. Williams sold 15,653 shares of the business’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $190.94, for a total value of $2,988,783.82. Following the completion of the sale, the chief operating officer now directly owns 147,819 shares of the company’s stock, valued at approximately $28,224,559.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela J. Ahrendts sold 38,228 shares of the business’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $176.54, for a total value of $6,748,771.12. Following the completion of the sale, the insider now directly owns 90,967 shares of the company’s stock, valued at $16,059,314.18. The disclosure for this sale can be found here. Insiders sold a total of 168,738 shares of company stock valued at $31,247,951 over the last ninety days. 0.08% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of AAPL. Quattro Financial Advisors LLC bought a new stake in Apple in the 1st quarter valued at about $133,000. Smart Portfolios LLC bought a new stake in Apple during the 1st quarter worth approximately $134,000. CX Institutional bought a new stake in Apple during the 2nd quarter worth approximately $135,000. Spectrum Financial Alliance Ltd LLC bought a new stake in Apple during the 1st quarter worth approximately $138,000. Finally, Macroview Investment Management LLC increased its holdings in Apple by 220.3% during the 1st quarter. Macroview Investment Management LLC now owns 900 shares of the iPhone maker’s stock worth $151,000 after purchasing an additional 619 shares in the last quarter. 58.07% of the stock is owned by institutional investors and hedge funds.

About Apple

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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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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