$85.80 Billion in Sales Expected for Apple Inc. (AAPL) This Quarter

Equities analysts expect that Apple Inc. (NASDAQ:AAPL) will report $85.80 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Apple’s earnings, with estimates ranging from $84.01 billion to $87.44 billion. Apple reported sales of $78.35 billion in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The business is scheduled to announce its next quarterly earnings results 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 fiscal year, with estimates ranging from $251.71 billion to $306.81 billion. For the next financial year, analysts anticipate that the firm will report sales of $270.83 billion per share, with estimates ranging from $242.88 billion to $296.70 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Apple.

Apple (NASDAQ:AAPL) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 analysts’ expectations of $50.71 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm’s revenue was up 12.2% on a year-over-year basis.

A number of equities research analysts have recently issued reports on the stock. Nomura set a $185.00 price objective on shares of Apple and gave the company a “buy” rating in a research note on Monday, September 25th. KeyCorp raised shares of Apple from a “sector weight” rating to an “overweight” rating and upped their price objective for the company from $173.75 to $187.00 in a research note on Monday, October 16th. Longbow Research cut shares of Apple from a “buy” rating to a “neutral” rating in a research note on Wednesday. Zacks Investment Research cut shares of Apple from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Sanford C. Bernstein reiterated a “buy” rating and set a $175.00 price target on shares of Apple in a report on Tuesday, September 26th. One 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 stock. The stock has a consensus rating of “Buy” and an average price target of $200.59.

In related news, insider Daniel J. Riccio sold 15,641 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $169.69, for a total value of $2,654,121.29. Following the completion of the transaction, the insider now directly owns 17,341 shares in the company, valued at approximately $2,942,594.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Johny Srouji sold 10,368 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $174.68, for a total transaction of $1,811,082.24. Following the completion of the transaction, the insider now owns 81,560 shares of the company’s stock, valued at $14,246,900.80. The disclosure for this sale can be found here. Insiders sold a total of 128,412 shares of company stock valued at $22,115,155 over the last 90 days. Company insiders own 0.08% of the company’s stock.

Several institutional investors have recently modified their holdings of AAPL. YHB Investment Advisors Inc. grew its position in Apple by 7.6% during the 2nd quarter. YHB Investment Advisors Inc. now owns 136,189 shares of the iPhone maker’s stock valued at $19,614,000 after purchasing an additional 9,663 shares during the last quarter. Lederer & Associates Investment Counsel CA grew its position in Apple by 2.1% during the 2nd quarter. Lederer & Associates Investment Counsel CA now owns 37,336 shares of the iPhone maker’s stock valued at $5,377,000 after purchasing an additional 779 shares during the last quarter. Empirical Financial Services LLC grew its position in Apple by 23.9% during the 2nd quarter. Empirical Financial Services LLC now owns 21,558 shares of the iPhone maker’s stock valued at $3,105,000 after purchasing an additional 4,154 shares during the last quarter. Carnick & Kubik Group LLC grew its position in Apple by 14.4% during the 2nd quarter. Carnick & Kubik Group LLC now owns 20,744 shares of the iPhone maker’s stock valued at $2,987,000 after purchasing an additional 2,612 shares during the last quarter. Finally, GenTrust LLC grew its position in Apple by 1,022.9% during the 2nd quarter. GenTrust LLC now owns 34,315 shares of the iPhone maker’s stock valued at $4,942,000 after purchasing an additional 31,259 shares during the last quarter. Institutional investors own 60.19% of the company’s stock.

Shares of Apple (NASDAQ AAPL) traded down $0.80 during trading on Thursday, hitting $178.46. 30,827,809 shares of the stock were exchanged, compared to its average volume of 25,680,000. Apple has a 12 month low of $119.50 and a 12 month high of $180.10. The stock has a market cap of $916,270.00, a PE ratio of 19.42, a price-to-earnings-growth ratio of 1.44 and a beta of 1.23. The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.73.

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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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