Zacks: Analysts Anticipate Apple Inc. (AAPL) Will Post Quarterly Sales of $85.80 Billion
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.
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.
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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