Wall Street analysts forecast that Apple (AAPL) will report quarterly earnings of $1.73 per share in its upcoming release, pointing to a year-over-year increase of 5.5%. It is anticipated that revenues will amount to $101.19 billion, exhibiting an increase of 6.6% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 0.8% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
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 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.
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.
Analysts expect 'Net Sales by Category- Wearables, Home and Accessories' to come in at $8.31 billion. The estimate points to a change of -8.1% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Net Sales by Category- iPhone' of $49.75 billion. The estimate indicates a change of +7.6% from the prior-year quarter.
According to the collective judgment of analysts, 'Net Sales- Services' should come in at $28.05 billion. The estimate indicates a year-over-year change of +12.3%.
The consensus estimate for 'Net Sales by Category- Mac' stands at $8.44 billion. The estimate indicates a year-over-year change of +9%.
The consensus among analysts is that 'Net Sales- Products' will reach $73.39 billion. The estimate suggests a change of +4.9% year over year.
Analysts' assessment points toward 'Net Sales by Category- iPad' reaching $6.90 billion. The estimate suggests a change of -0.8% year over year.
The average prediction of analysts places 'Geographic Revenue- Greater China' at $16.23 billion. The estimate points to a change of +8% from the year-ago quarter.
Analysts predict that the 'Geographic Revenue- Europe' will reach $26.03 billion. The estimate indicates a year-over-year change of +4.4%.
Based on the collective assessment of analysts, 'Geographic Revenue- Rest of Asia Pacific' should arrive at $7.72 billion. The estimate points to a change of +4.6% from the year-ago quarter.
The combined assessment of analysts suggests that 'Geographic Revenue- Japan' will likely reach $6.53 billion. The estimate points to a change of +10.2% from the year-ago quarter.
It is projected by analysts that the 'Geographic Revenue- Americas' will reach $43.93 billion. The estimate indicates a change of +5.4% from the prior-year quarter.
Analysts forecast 'Gross margin- Services' to reach $21.07 billion. The estimate is in contrast to the year-ago figure of $18.49 billion.
View all Key Company Metrics for Apple here>>>Shares of Apple have experienced a change of +2.9% in the past month compared to the +2.5% move of the Zacks S&P 500 composite. 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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