Wall Street analysts forecast that Apple (AAPL) will report quarterly earnings of $1.60 per share in its upcoming release, pointing to a year-over-year increase of 4.6%. It is anticipated that revenues will amount to $93.56 billion, exhibiting an increase of 3.1% compared to the year-ago quarter.
The current level reflects a downward revision of 3.6% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
That said, let's delve into the average estimates of some Apple metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Net Sales- Products' stands at $66.99 billion. The estimate points to a change of +0.2% from the year-ago quarter.
Based on the collective assessment of analysts, 'Net Sales- Services' should arrive at $26.74 billion. The estimate indicates a change of +12% from the prior-year quarter.
Analysts' assessment points toward 'Revenue- Mac' reaching $7.79 billion. The estimate indicates a change of +4.6% from the prior-year quarter.
Analysts predict that the 'Revenue- iPhone' will reach $45.67 billion. The estimate suggests a change of -0.6% year over year.
The consensus among analysts is that 'Revenue- Wearables, Home and Accessories' will reach $7.76 billion. The estimate indicates a change of -1.9% from the prior-year quarter.
Analysts forecast 'Revenue- iPad' to reach $5.96 billion. The estimate suggests a change of +7.2% year over year.
It is projected by analysts that the 'Geographic Revenue- Greater China' will reach $16.34 billion. The estimate indicates a year-over-year change of -0.2%.
Analysts expect 'Geographic Revenue- Europe' to come in at $24.50 billion. The estimate indicates a year-over-year change of +1.6%.
The average prediction of analysts places 'Geographic Revenue- Rest of Asia Pacific' at $7.36 billion. The estimate indicates a year-over-year change of +9.4%.
The combined assessment of analysts suggests that 'Geographic Revenue- Japan' will likely reach $6.47 billion. The estimate points to a change of +3.3% from the year-ago quarter.
According to the collective judgment of analysts, 'Geographic Revenue- Americas' should come in at $38.99 billion. The estimate suggests a change of +4.6% year over year.
The collective assessment of analysts points to an estimated 'Gross margin- Services' of $19.93 billion. The estimate compares to the year-ago value of $17.81 billion.
View all Key Company Metrics for Apple here>>>
Apple shares have witnessed a change of -4% in the past month, in contrast to the Zacks S&P 500 composite's -4.3% move. With a Zacks Rank #3 (Hold), AAPL is expected closely follow the overall market performance in the near term. 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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