Brokerages expect that Apple Inc. (NASDAQ:AAPL) will post $85.80 billion in sales for the current quarter, according to Zacks. Six analysts have provided estimates for Apple’s earnings, with the lowest sales estimate coming in at $84.01 billion and the highest estimate coming in at $87.44 billion. Apple posted sales of $78.35 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The firm is expected to issue its next earnings results after the market closes on Thursday, February 1st.

On average, analysts expect that Apple will report full-year sales of $85.80 billion for the current year, with estimates ranging from $251.71 billion to $306.81 billion. For the next fiscal year, analysts anticipate that the company will post sales of $270.83 billion per share, with estimates ranging from $242.88 billion to $296.70 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Apple.

Apple (NASDAQ:AAPL) last announced its earnings results on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.87 by $0.20. The business had revenue of $52.58 billion during the quarter, compared to the consensus estimate of $50.71 billion. Apple had a return on equity of 36.29% and a net margin of 21.09%. The business’s quarterly revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS.

Several brokerages have recently weighed in on AAPL. Bank of America downgraded Apple from a “buy” rating to a “neutral” rating and upped their target price for the stock from $180.00 to $220.00 in a research note on Wednesday. Longbow Research downgraded Apple from a “buy” rating to a “neutral” rating in a research note on Wednesday. Maxim Group upped their target price on Apple from $193.00 to $204.00 and gave the stock a “buy” rating in a research note on Friday, January 12th. Zacks Investment Research downgraded Apple from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, UBS Group set a $190.00 price objective on Apple and gave the company a “buy” rating in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $199.83.

Apple (AAPL) opened at $179.10 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.23 and a current ratio of 1.28. The firm has a market capitalization of $919,560.00, a P/E ratio of 19.49, a PEG ratio of 1.44 and a beta of 1.23. Apple has a 52 week low of $118.22 and a 52 week high of $179.39.

In other news, insider Daniel J. Riccio sold 15,641 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $174.78, for a total transaction of $2,733,733.98. Following the sale, the insider now owns 13,739 shares of the company’s stock, valued at approximately $2,401,302.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Johny Srouji sold 10,368 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $174.68, for a total value of $1,811,082.24. Following the sale, the insider now directly owns 81,560 shares in the company, valued at approximately $14,246,900.80. The disclosure for this sale can be found here. Insiders sold a total of 128,412 shares of company stock worth $22,115,155 in the last ninety days. 0.08% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. acquired a new position in Apple during the second quarter worth approximately $400,000. Blue Sky Asset Management LLC acquired a new position in Apple during the second quarter worth approximately $108,000. FNY Managed Accounts LLC increased its position in Apple by 852.4% during the second quarter. FNY Managed Accounts LLC now owns 800 shares of the iPhone maker’s stock worth $115,000 after buying an additional 716 shares during the period. Armbruster Capital Management Inc. increased its position in Apple by 9.4% during the second quarter. Armbruster Capital Management Inc. now owns 911 shares of the iPhone maker’s stock worth $131,000 after buying an additional 78 shares during the period. Finally, Oak Point Wealth Management acquired a new position in Apple during the fourth quarter worth approximately $163,000. 60.19% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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