Wall Street analysts expect Apple (AAPL) to post quarterly earnings of $2.65 per share in its upcoming report, which indicates a year-over-year increase of 10.4%. Revenues are expected to be $137.47 billion, up 10.6% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 0.4% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Apple metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Net Sales by Category- Wearables, Home and Accessories' at $12.19 billion. The estimate points to a change of +3.8% from the year-ago quarter.
Analysts predict that the 'Net Sales by Category- iPhone' will reach $77.63 billion. The estimate suggests a change of +12.3% year over year.
The combined assessment of analysts suggests that 'Net Sales- Services' will likely reach $30.04 billion. The estimate indicates a year-over-year change of +14.1%.
The consensus estimate for 'Net Sales by Category- Mac' stands at $8.99 billion. The estimate indicates a year-over-year change of +0.1%.
The collective assessment of analysts points to an estimated 'Net Sales- Products' of $107.30 billion. The estimate suggests a change of +9.5% year over year.
It is projected by analysts that the 'Net Sales by Category- iPad' will reach $8.49 billion. The estimate indicates a change of +4.9% from the prior-year quarter.
Analysts expect 'Geographic Revenue- Greater China' to come in at $21.76 billion. The estimate suggests a change of +17.6% year over year.
Analysts forecast 'Geographic Revenue- Europe' to reach $36.35 billion. The estimate indicates a change of +7.4% from the prior-year quarter.
According to the collective judgment of analysts, 'Geographic Revenue- Rest of Asia Pacific' should come in at $11.31 billion. The estimate indicates a change of +9.9% from the prior-year quarter.
The consensus among analysts is that 'Geographic Revenue- Japan' will reach $9.43 billion. The estimate indicates a year-over-year change of +5%.
Analysts' assessment points toward 'Geographic Revenue- Americas' reaching $58.47 billion. The estimate suggests a change of +11.1% year over year.
Based on the collective assessment of analysts, 'Gross margin- Services' should arrive at $22.75 billion. The estimate compares to the year-ago value of $19.76 billion.
View all Key Company Metrics for Apple here>>>
Shares of Apple have demonstrated returns of -9.3% over the past month compared to the Zacks S&P 500 composite's +0.2% change. With a Zacks Rank #3 (Hold), AAPL is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Apple Inc. (AAPL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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