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Can Continued Services Momentum Aid Apple's (AAPL) Q2 Earnings?
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Apple’s (AAPL - Free Report) second-quarter fiscal 2021 results, to be reported on Apr 28, are expected to benefit from continued momentum in the Services business.
The segment, which includes revenues from the App Store, Apple Music, iCloud, Apple Arcade, Apple TV+, Apple News+ and Apple Card, accounted for 14.1% of sales in first-quarter fiscal 2021.
Apple currently has more than 620 million paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers from around the world, helping the company offer appealing new apps that drive App Store traffic, thereby expanding subscriber base.
The Zacks Consensus Estimate for Services currently stands at $15.39 billion, indicating 15.3% growth from the year-ago quarter’s reported figure.
Both market research firms placed Apple in the fourth position, while Lenovo (LNVGY - Free Report) ranked #1, followed by HP (HPQ - Free Report) and Dell Technologies (DELL - Free Report) at #2 and #3 spot, respectively.
The Zacks Consensus Estimate for Mac revenues stands at $6.79 billion, implying 27% growth from the figure reported in the year-ago quarter.
Moreover, the consensus mark for iPad revenues is pegged at $5.49 billion, suggesting 25.8% growth from the figure reported in the year-ago quarter. iPad demand is also expected to have remained high due to online learning and increased adoption among enterprises.
Moreover, Apple expects Wearables, Home and Accessories’ year-over-year growth rate to decline in the second quarter compared with the first quarter, when it increased 29.6%. Markedly, Apple continues to dominate the wearables market, courtesy of the latest Apple Watch 6.
Markedly, the consensus mark for wearables is currently pegged at $7.41 billion, indicating growth of 18% from the figure reported in the year-ago quarter.
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Can Continued Services Momentum Aid Apple's (AAPL) Q2 Earnings?
Apple’s (AAPL - Free Report) second-quarter fiscal 2021 results, to be reported on Apr 28, are expected to benefit from continued momentum in the Services business.
The segment, which includes revenues from the App Store, Apple Music, iCloud, Apple Arcade, Apple TV+, Apple News+ and Apple Card, accounted for 14.1% of sales in first-quarter fiscal 2021.
Apple currently has more than 620 million paid subscribers across its Services portfolio. The App Store continues to draw the attention of prominent developers from around the world, helping the company offer appealing new apps that drive App Store traffic, thereby expanding subscriber base.
The Zacks Consensus Estimate for Services currently stands at $15.39 billion, indicating 15.3% growth from the year-ago quarter’s reported figure.
Apple Inc. Revenue (TTM)
Apple Inc. revenue-ttm | Apple Inc. Quote
Click here to know how Apple’s overall second-quarter results are likely to be.
Apple’s Non-iPhone Portfolio to Boost Revenues
Apple’s non-iPhone portfolio that comprises Mac, iPad and Wearables is expected to have aided top-line growth in the fiscal second quarter.
This Zacks Rank #3 (Hold) company’s Mac sales are expected to have been driven by the ongoing work-from-home and online-learning waves. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Markedly, PC sales were up 32% year over year to 69.9 million units during the March-end quarter, per Gartner’s estimates. IDC puts PC shipment’s year-over-year growth at 55.2% to 84 million units.
Both market research firms placed Apple in the fourth position, while Lenovo (LNVGY - Free Report) ranked #1, followed by HP (HPQ - Free Report) and Dell Technologies (DELL - Free Report) at #2 and #3 spot, respectively.
Per Gartner, Apple’s Mac shipment grew 48.6% year over year, while IDC estimates 111.5% growth.
The Zacks Consensus Estimate for Mac revenues stands at $6.79 billion, implying 27% growth from the figure reported in the year-ago quarter.
Moreover, the consensus mark for iPad revenues is pegged at $5.49 billion, suggesting 25.8% growth from the figure reported in the year-ago quarter. iPad demand is also expected to have remained high due to online learning and increased adoption among enterprises.
Moreover, Apple expects Wearables, Home and Accessories’ year-over-year growth rate to decline in the second quarter compared with the first quarter, when it increased 29.6%. Markedly, Apple continues to dominate the wearables market, courtesy of the latest Apple Watch 6.
Markedly, the consensus mark for wearables is currently pegged at $7.41 billion, indicating growth of 18% from the figure reported in the year-ago quarter.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>