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

Equities analysts forecast that Apple Inc. (NASDAQ:AAPL) will post $85.80 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Apple’s earnings, with estimates ranging from $84.01 billion to $87.44 billion. Apple posted sales of $78.35 billion during the same quarter last year, which would indicate a positive year over year growth rate of 9.5%. The company is expected to report its next quarterly earnings report after the market closes on Thursday, February 1st.

According to Zacks, 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 business will post sales of $270.83 billion per share, with estimates ranging from $242.88 billion to $296.70 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Apple.

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

A number of equities research analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “hold” rating and set a $150.00 price objective on shares of Apple in a research note on Sunday, October 15th. Citigroup reaffirmed a “buy” rating and set a $200.00 price objective (up previously from $170.00) on shares of Apple in a research note on Friday, November 3rd. They noted that the move was a valuation call. UBS Group set a $190.00 price objective on shares of Apple and gave the stock a “buy” rating in a research note on Monday, December 4th. Bank of America reaffirmed a “buy” rating and set a $180.00 price objective on shares of Apple in a research note on Tuesday, September 26th. Finally, Zacks Investment Research raised shares of Apple from a “hold” rating to a “buy” rating and set a $197.00 price objective on the stock in a research note on Thursday, January 18th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $200.59.

Apple (AAPL) opened at $177.00 on Tuesday. Apple has a 1 year low of $119.50 and a 1 year high of $180.10. 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 stock has a market cap of $908,770.00, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23.

In other Apple news, SVP Johny Srouji sold 5,760 shares of Apple stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $174.40, for a total transaction of $1,004,544.00. Following the sale, the senior vice president now owns 81,560 shares of the company’s stock, valued at approximately $14,224,064. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Riccio sold 15,641 shares of Apple stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $172.35, for a total value of $2,695,726.35. Following the transaction, the insider now owns 39,682 shares in the company, valued at approximately $6,839,192.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,412 shares of company stock worth $22,115,155. 0.06% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janus Henderson Group PLC raised its holdings in Apple by 301.3% in the 2nd quarter. Janus Henderson Group PLC now owns 20,003,587 shares of the iPhone maker’s stock valued at $2,880,992,000 after buying an additional 15,018,790 shares during the period. Harbour Capital Advisors LLC raised its holdings in Apple by 14,030.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 4,515,315 shares of the iPhone maker’s stock valued at $31,352,000 after buying an additional 4,483,360 shares during the period. Truepoint Inc. raised its holdings in Apple by 15,559.4% in the 3rd quarter. Truepoint Inc. now owns 4,436,774 shares of the iPhone maker’s stock valued at $4,437,000 after buying an additional 4,408,441 shares during the period. Capital Research Global Investors raised its holdings in Apple by 15.0% in the 2nd quarter. Capital Research Global Investors now owns 29,449,961 shares of the iPhone maker’s stock valued at $4,241,383,000 after buying an additional 3,845,363 shares during the period. Finally, Stifel Financial Corp raised its holdings in Apple by 9,166.4% in the 3rd quarter. Stifel Financial Corp now owns 3,883,754 shares of the iPhone maker’s stock valued at $598,497,000 after buying an additional 3,841,842 shares during the period. Institutional investors and hedge funds own 60.20% of the company’s stock.

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About Apple

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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