Analysts expect that Apple Inc. (NASDAQ:AAPL) will post $60.53 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Apple’s earnings, with the lowest sales estimate coming in at $50.47 billion and the highest estimate coming in at $66.53 billion. Apple posted sales of $64.04 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 5.5%. The business is scheduled to issue its next earnings report on Wednesday, November 4th.
On average, analysts expect that Apple will report full-year sales of $263.04 billion for the current financial year, with estimates ranging from $254.62 billion to $266.55 billion. For the next financial year, analysts forecast that the company will report sales of $302.18 billion, with estimates ranging from $288.53 billion to $323.72 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Apple.
Apple (NASDAQ:AAPL) last issued its quarterly earnings results on Thursday, July 30th. The iPhone maker reported $2.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.55. Apple had a net margin of 21.33% and a return on equity of 67.82%. The firm had revenue of $59.69 billion during the quarter, compared to analysts’ expectations of $51.94 billion.
In other news, insider Chris Kondo sold 4,491 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $305.62, for a total transaction of $1,372,539.42. Following the completion of the transaction, the insider now owns 7,370 shares of the company’s stock, valued at $2,252,419.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.05% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisor Group Holdings Inc. purchased a new stake in shares of Apple during the first quarter valued at approximately $536,884,000. Norges Bank acquired a new position in Apple in the fourth quarter worth $13,759,345,000. Wealth Quarterback LLC acquired a new position in Apple in the fourth quarter worth $3,783,310,000. Wellington Management Group LLP boosted its holdings in shares of Apple by 18.2% during the first quarter. Wellington Management Group LLP now owns 26,941,525 shares of the iPhone maker’s stock valued at $6,850,960,000 after acquiring an additional 4,148,565 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Apple by 21.0% during the first quarter. Swiss National Bank now owns 17,300,399 shares of the iPhone maker’s stock valued at $4,399,318,000 after acquiring an additional 3,000,800 shares during the period. 61.96% of the stock is owned by institutional investors and hedge funds.
Shares of AAPL traded up $40.28 during mid-day trading on Tuesday, reaching $425.04. 93,573,867 shares of the stock traded hands, compared to its average volume of 30,266,534. The company has a quick ratio of 1.46, a current ratio of 1.50 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $367.96 and a 200 day simple moving average of $313.71. The firm has a market cap of $1,842.26 billion, a price-to-earnings ratio of 32.32, a P/E/G ratio of 3.13 and a beta of 1.18. Apple has a 12-month low of $192.58 and a 12-month high of $425.66.
Apple shares are going to split on Monday, August 31st. The 4-1 split was announced on Thursday, July 30th. The newly minted shares will be issued to shareholders after the market closes on Friday, August 28th.
The company also recently declared a dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.82 per share. The ex-dividend date is Friday, August 7th. Apple’s dividend payout ratio (DPR) is 27.59%.
Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. It also sells various related services. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, HomePod, iPod touch, and other Apple-branded and third-party accessories.
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