stock-inc-logo.png” alt=”Apple logo” title=”Apple logo” class=”companylogo”/>Equities analysts expect that Apple Inc. (NASDAQ:AAPL) will post $102.61 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Apple’s earnings. The lowest sales estimate is $97.97 billion and the highest is $110.21 billion. Apple reported sales of $91.82 billion in the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 26th.
On average, analysts expect that Apple will report full-year sales of $320.73 billion for the current year, with estimates ranging from $304.42 billion to $341.46 billion. For the next year, analysts forecast that the firm will post sales of $333.86 billion, with estimates ranging from $324.10 billion to $353.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Apple.
Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, November 3rd. The iPhone maker reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. Apple had a return on equity of 75.15% and a net margin of 20.91%. The firm had revenue of $64.70 billion during the quarter, compared to analysts’ expectations of $63.33 billion. During the same period in the prior year, the company earned $3.03 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis.
Several research analysts have commented on the company. Macquarie reissued a “hold” rating and set a $66.60 target price on shares of Apple in a research note on Tuesday, September 8th. Cascend Securities increased their price objective on shares of Apple from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, December 15th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their target price on shares of Apple from $125.00 to $150.00 in a research report on Friday, December 18th. Sanford C. Bernstein reiterated a “neutral” rating and set a $100.00 price target on shares of Apple in a report on Wednesday, September 16th. Finally, Canaccord Genuity raised their price objective on Apple from $145.00 to $150.00 and gave the company a “buy” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Apple presently has a consensus rating of “Buy” and a consensus target price of $117.80.
In other Apple news, SVP Deirdre O’brien sold 31,200 shares of the firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $119.80, for a total value of $3,737,760.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Katherine L. Adams sold 17,000 shares of Apple stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $110.42, for a total transaction of $1,877,140.00. Following the transaction, the senior vice president now owns 320,784 shares of the company’s stock, valued at $35,420,969.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 306,471 shares of company stock worth $35,870,235. 0.05% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Lountzis Asset Management LLC purchased a new stake in shares of Apple in the second quarter worth approximately $26,000. Fure Financial Corp purchased a new stake in Apple in the 3rd quarter valued at $37,000. Ruggie Capital Group bought a new position in shares of Apple during the third quarter valued at about $41,000. Pacific Financial Group Inc. purchased a new position in Apple during the third quarter worth about $46,000. Finally, GW&K Investment Management LLC grew its position in Apple by 300.0% in the 3rd quarter. GW&K Investment Management LLC now owns 400 shares of the iPhone maker’s stock worth $46,000 after purchasing an additional 300 shares in the last quarter. 59.65% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:AAPL opened at $131.01 on Wednesday. Apple has a twelve month low of $53.15 and a twelve month high of $138.79. The company has a quick ratio of 1.33, a current ratio of 1.36 and a debt-to-equity ratio of 1.51. The stock‘s 50-day simple moving average is $124.49 and its 200 day simple moving average is $113.27. The firm has a market capitalization of $2.23 trillion, a PE ratio of 40.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.30.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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