$61.40 Billion in Sales Expected for Apple Inc. (AAPL) This Quarter

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Equities analysts forecast that Apple Inc. (NASDAQ:AAPL) will report sales of $61.40 billion for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Apple’s earnings. The lowest sales estimate is $60.36 billion and the highest is $63.25 billion. Apple reported sales of $52.58 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.8%. The company is scheduled to announce its next earnings report after the market closes on Thursday, November 1st.

On average, analysts expect that Apple will report full-year sales of $264.06 billion for the current year, with estimates ranging from $263.05 billion to $265.94 billion. For the next year, analysts forecast that the company will report sales of $277.05 billion, with estimates ranging from $264.63 billion to $289.39 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Apple.

Apple (NASDAQ:AAPL) last released its earnings results on Tuesday, July 31st. The iPhone maker reported $2.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.18 by $0.16. Apple had a return on equity of 43.50% and a net margin of 21.98%. The firm had revenue of $53.27 billion for the quarter, compared to analysts’ expectations of $52.43 billion. During the same quarter in the previous year, the business posted $1.67 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis.

AAPL has been the topic of a number of recent analyst reports. Tigress Financial reiterated a “buy” rating on shares of Apple in a research report on Thursday, August 30th. Robert W. Baird set a $230.00 target price on Apple and gave the company a “buy” rating in a research report on Tuesday, September 4th. New Street Research reiterated a “sell” rating on shares of Apple in a research report on Tuesday, September 18th. Needham & Company LLC lifted their target price on Apple from $220.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Finally, Bank of America reiterated a “buy” rating on shares of Apple in a research report on Tuesday. Three equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and thirty have issued a buy rating to the stock. Apple currently has an average rating of “Buy” and a consensus price target of $221.63.

Apple stock traded up $7.66 during midday trading on Monday, reaching $222.11. The company’s stock had a trading volume of 39,486,990 shares, compared to its average volume of 31,432,369. Apple has a 52 week low of $150.24 and a 52 week high of $233.47. The company has a quick ratio of 1.24, a current ratio of 1.31 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1,109.54 billion, a PE ratio of 24.12, a P/E/G ratio of 1.99 and a beta of 1.36.

In related news, SVP Angela J. Ahrendts sold 25,000 shares of Apple stock in a transaction that occurred on Wednesday, October 3rd. The stock was sold at an average price of $232.66, for a total value of $5,816,500.00. Following the transaction, the senior vice president now directly owns 105,538 shares of the company’s stock, valued at $24,554,471.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Angela J. Ahrendts sold 14,194 shares of Apple stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $227.96, for a total value of $3,235,664.24. Following the completion of the transaction, the senior vice president now directly owns 105,538 shares in the company, valued at $24,058,442.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 564,185 shares of company stock worth $124,444,213. 0.06% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of AAPL. Fort L.P. acquired a new position in Apple in the second quarter valued at approximately $119,000. Delphi Private Advisors LLC acquired a new position in Apple in the second quarter valued at approximately $120,000. Cranbrook Wealth Management LLC lifted its stake in Apple by 76.1% in the second quarter. Cranbrook Wealth Management LLC now owns 699 shares of the iPhone maker’s stock valued at $129,000 after buying an additional 302 shares during the period. Quattro Financial Advisors LLC acquired a new position in Apple in the first quarter valued at approximately $133,000. Finally, Smart Portfolios LLC acquired a new position in Apple in the first quarter valued at approximately $134,000. 58.58% of the stock is currently owned by institutional investors.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers to consumers, and small and mid-sized businesses; and education, enterprise, and government customers worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.

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