$44.67 Billion in Sales Expected for Apple Inc. (NASDAQ:AAPL) This Quarter
Equities research analysts predict that Apple Inc. (NASDAQ:AAPL) will report $44.67 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Apple’s earnings. The highest sales estimate is $45.58 billion and the lowest is $43.96 billion. Apple posted sales of $42.36 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The firm is expected to announce its next earnings report after the market closes on Tuesday, August 1st.
On average, analysts expect that Apple will report full year sales of $44.67 billion for the current fiscal year, with estimates ranging from $223.32 billion to $229.66 billion. For the next year, analysts forecast that the business will report sales of $253.34 billion per share, with estimates ranging from $233.16 billion to $277.83 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Apple.
Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Tuesday, May 2nd. The iPhone maker reported $2.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.08. The firm had revenue of $52.90 billion for the quarter, compared to the consensus estimate of $52.61 billion. Apple had a net margin of 20.74% and a return on equity of 35.09%.
A number of brokerages recently commented on AAPL. Raymond James Financial, Inc. reissued an “outperform” rating and issued a $159.00 price objective (up from $152.00) on shares of Apple in a research note on Monday, April 3rd. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $150.00 price objective on shares of Apple in a research note on Wednesday, April 12th. Rosenblatt Securities reissued a “neutral” rating and issued a $120.00 price objective on shares of Apple in a research note on Monday, April 17th. FBN Securities upped their target price on shares of Apple from $155.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, May 4th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $130.00 target price on shares of Apple in a report on Tuesday, June 6th. Eleven equities research analysts have rated the stock with a hold rating, forty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $160.97.
Apple (AAPL) opened at 149.04 on Friday. The stock has a 50 day moving average of $150.30 and a 200 day moving average of $137.42. The stock has a market capitalization of $777.07 billion, a P/E ratio of 17.48 and a beta of 1.31. Apple has a 1-year low of $96.05 and a 1-year high of $156.65.
In related news, insider Angela J. Ahrendts sold 75,000 shares of the business’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $147.98, for a total transaction of $11,098,500.00. Following the sale, the insider now owns 154,116 shares in the company, valued at approximately $22,806,085.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Luca Maestri sold 6,308 shares of the business’s stock in a transaction on Thursday, April 20th. The stock was sold at an average price of $141.83, for a total value of $894,663.64. Following the sale, the insider now owns 2,665 shares in the company, valued at approximately $377,976.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 379,308 shares of company stock worth $57,391,709. Corporate insiders own 0.08% of the company’s stock.
A number of large investors have recently modified their holdings of AAPL. Stonehearth Capital Management LLC raised its stake in shares of Apple by 0.8% in the first quarter. Stonehearth Capital Management LLC now owns 2,378 shares of the iPhone maker’s stock worth $342,000 after buying an additional 20 shares in the last quarter. Lenox Wealth Advisors Inc. raised its stake in shares of Apple by 0.4% in the second quarter. Lenox Wealth Advisors Inc. now owns 4,971 shares of the iPhone maker’s stock worth $716,000 after buying an additional 20 shares in the last quarter. Noven Financial Group Inc. raised its stake in shares of Apple by 0.3% in the fourth quarter. Noven Financial Group Inc. now owns 7,396 shares of the iPhone maker’s stock worth $857,000 after buying an additional 22 shares in the last quarter. Sippican Capital Advisors raised its stake in shares of Apple by 0.5% in the first quarter. Sippican Capital Advisors now owns 4,912 shares of the iPhone maker’s stock worth $706,000 after buying an additional 26 shares in the last quarter. Finally, Cordasco Financial Network raised its stake in shares of Apple by 1.0% in the first quarter. Cordasco Financial Network now owns 3,184 shares of the iPhone maker’s stock worth $457,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 61.22% of the company’s stock.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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