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Stay Ahead of the Game With Apple (AAPL) Q3 Earnings: Wall Street's Insights on Key Metrics
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The upcoming report from Apple (AAPL - Free Report) is expected to reveal quarterly earnings of $1.34 per share, indicating an increase of 6.4% compared to the year-ago period. Analysts forecast revenues of $84.02 billion, representing an increase of 2.7% year over year.
The current level reflects an upward revision of 0.1% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Apple metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenue- Wearables, Home and Accessories' to come in at $7.51 billion. The estimate suggests a change of -9.3% year over year.
Based on the collective assessment of analysts, 'Revenue- iPhone' should arrive at $38.74 billion. The estimate suggests a change of -2.3% year over year.
The combined assessment of analysts suggests that 'Net Sales- Services' will likely reach $24.00 billion. The estimate indicates a year-over-year change of +13.1%.
Analysts predict that the 'Revenue- Mac' will reach $6.92 billion. The estimate points to a change of +1.2% from the year-ago quarter.
The consensus among analysts is that 'Net Sales- Products' will reach $60.06 billion. The estimate suggests a change of -0.9% year over year.
Analysts forecast 'Revenue- iPad' to reach $6.88 billion. The estimate points to a change of +18.9% from the year-ago quarter.
Analysts' assessment points toward 'Geographic Revenue- Greater China' reaching $15.19 billion. The estimate indicates a change of -3.6% from the prior-year quarter.
The consensus estimate for 'Geographic Revenue- Europe' stands at $20.65 billion. The estimate points to a change of +2.2% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Geographic Revenue- Rest of Asia Pacific' of $6.11 billion. The estimate indicates a change of +8.4% from the prior-year quarter.
According to the collective judgment of analysts, 'Geographic Revenue- Japan' should come in at $5.26 billion. The estimate points to a change of +9.1% from the year-ago quarter.
It is projected by analysts that the 'Geographic Revenue- Americas' will reach $36.39 billion. The estimate suggests a change of +2.9% year over year.
The average prediction of analysts places 'Gross margin- Services' at $17.44 billion. Compared to the present estimate, the company reported $14.97 billion in the same quarter last year.
Shares of Apple have demonstrated returns of +3.5% over the past month compared to the Zacks S&P 500 composite's -0.2% change. With a Zacks Rank #2 (Buy), AAPL is expected to beat 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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Stay Ahead of the Game With Apple (AAPL) Q3 Earnings: Wall Street's Insights on Key Metrics
The upcoming report from Apple (AAPL - Free Report) is expected to reveal quarterly earnings of $1.34 per share, indicating an increase of 6.4% compared to the year-ago period. Analysts forecast revenues of $84.02 billion, representing an increase of 2.7% year over year.
The current level reflects an upward revision of 0.1% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
With that in mind, let's delve into the average projections of some Apple metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Revenue- Wearables, Home and Accessories' to come in at $7.51 billion. The estimate suggests a change of -9.3% year over year.
Based on the collective assessment of analysts, 'Revenue- iPhone' should arrive at $38.74 billion. The estimate suggests a change of -2.3% year over year.
The combined assessment of analysts suggests that 'Net Sales- Services' will likely reach $24.00 billion. The estimate indicates a year-over-year change of +13.1%.
Analysts predict that the 'Revenue- Mac' will reach $6.92 billion. The estimate points to a change of +1.2% from the year-ago quarter.
The consensus among analysts is that 'Net Sales- Products' will reach $60.06 billion. The estimate suggests a change of -0.9% year over year.
Analysts forecast 'Revenue- iPad' to reach $6.88 billion. The estimate points to a change of +18.9% from the year-ago quarter.
Analysts' assessment points toward 'Geographic Revenue- Greater China' reaching $15.19 billion. The estimate indicates a change of -3.6% from the prior-year quarter.
The consensus estimate for 'Geographic Revenue- Europe' stands at $20.65 billion. The estimate points to a change of +2.2% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Geographic Revenue- Rest of Asia Pacific' of $6.11 billion. The estimate indicates a change of +8.4% from the prior-year quarter.
According to the collective judgment of analysts, 'Geographic Revenue- Japan' should come in at $5.26 billion. The estimate points to a change of +9.1% from the year-ago quarter.
It is projected by analysts that the 'Geographic Revenue- Americas' will reach $36.39 billion. The estimate suggests a change of +2.9% year over year.
The average prediction of analysts places 'Gross margin- Services' at $17.44 billion. Compared to the present estimate, the company reported $14.97 billion in the same quarter last year.
View all Key Company Metrics for Apple here>>>
Shares of Apple have demonstrated returns of +3.5% over the past month compared to the Zacks S&P 500 composite's -0.2% change. With a Zacks Rank #2 (Buy), AAPL is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>