Apple Inc. (NASDAQ:AAPL) Expected to Post Quarterly Sales of $82.44 Billion

Analysts expect Apple Inc. (NASDAQ:AAPLGet Rating) to announce $82.44 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Apple’s earnings. The highest sales estimate is $84.98 billion and the lowest is $79.52 billion. Apple reported sales of $81.43 billion during the same quarter last year, which indicates a positive year over year growth rate of 1.2%. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Apple will report full-year sales of $394.91 billion for the current fiscal year, with estimates ranging from $387.17 billion to $402.66 billion. For the next financial year, analysts anticipate that the firm will report sales of $420.11 billion, with estimates ranging from $404.18 billion to $428.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Apple.

Apple (NASDAQ:AAPLGet Rating) last issued its earnings results on Thursday, April 28th. The iPhone maker reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.09. The company had revenue of $97.28 billion for the quarter, compared to analyst estimates of $93.99 billion. Apple had a return on equity of 152.88% and a net margin of 26.41%. Apple’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 earnings per share.

A number of equities research analysts recently commented on AAPL shares. DA Davidson increased their price target on Apple from $170.00 to $185.00 in a research report on Friday, January 28th. Rosenblatt Securities lowered their price target on Apple from $184.00 to $168.00 and set a “neutral” rating for the company in a research report on Monday, May 2nd. Zacks Investment Research reissued a “buy” rating on shares of Apple in a research report on Wednesday, March 2nd. Fundamental Research decreased their target price on Apple from $179.32 to $175.24 and set an “average” rating for the company in a research report on Friday, May 6th. Finally, Barclays set a $170.00 target price on Apple in a research report on Wednesday, April 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $188.39.

NASDAQ AAPL opened at $154.51 on Wednesday. The firm has a market capitalization of $2.50 trillion, a P/E ratio of 25.08, a PEG ratio of 2.06 and a beta of 1.19. The business has a fifty day simple moving average of $164.84 and a 200 day simple moving average of $165.60. Apple has a 12 month low of $122.25 and a 12 month high of $182.94. The company has a current ratio of 0.93, a quick ratio of 0.88 and a debt-to-equity ratio of 1.53.

Apple declared that its Board of Directors has approved a stock repurchase program on Thursday, April 28th that authorizes the company to repurchase $90.00 billion in shares. This repurchase authorization authorizes the iPhone maker to buy up to 3.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 12th. Shareholders of record on Monday, May 9th will be paid a $0.23 dividend. The ex-dividend date is Friday, May 6th. This represents a $0.92 annualized dividend and a yield of 0.60%. This is an increase from Apple’s previous quarterly dividend of $0.22. Apple’s dividend payout ratio (DPR) is currently 14.94%.

In other Apple news, SVP Katherine L. Adams sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $161.72, for a total value of $4,043,000.00. Following the sale, the senior vice president now owns 452,334 shares of the company’s stock, valued at approximately $73,151,454.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Deirdre O’brien sold 8,000 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $164.91, for a total value of $1,319,280.00. Following the completion of the sale, the senior vice president now directly owns 136,290 shares in the company, valued at approximately $22,475,583.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,099 shares of company stock valued at $29,376,711. 0.06% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the business. Dark Forest Capital Management LP purchased a new position in shares of Apple during the 3rd quarter valued at about $29,000. Cardinal Capital Management Inc. raised its holdings in shares of Apple by 5,525.0% during the 1st quarter. Cardinal Capital Management Inc. now owns 225 shares of the iPhone maker’s stock valued at $39,000 after buying an additional 221 shares in the last quarter. Shore Point Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $41,000. St. James Investment Advisors LLC purchased a new position in shares of Apple during the 4th quarter valued at about $57,000. Finally, Econ Financial Services Corp purchased a new position in shares of Apple during the 4th quarter valued at about $58,000. 57.98% of the stock is currently owned by hedge funds and other institutional investors.

Apple Company Profile (Get Rating)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. In addition, the company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; AirPods Max, an over-ear wireless headphone; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch.

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Earnings History and Estimates for Apple (NASDAQ:AAPL)

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