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Is Apple (AAPL) a 'Buy' Ahead of Q2 Earnings Announcement?
Tech heavyweight Apple (AAPL - Free Report) is set to report quarterly results on Thursday after the bell. Apple, a Zacks Rank #3 (Hold), boasts a stellar track record of exceeding earnings estimates. With AAPL stock down more than 15% this year, is the iPhone maker a buy heading into earnings?
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Analysts are expecting AAPL to deliver quarterly earnings of $1.60 per share, which would reflect growth of 4.6% relative to the same quarter in the prior year. Projected revenues of $93.56 billion would mark a 3.1% improvement versus the year-ago period.
Apple has beaten earnings estimates in each of the past four quarters, sporting a 4.4% average earnings surprise over that timeframe. Apple’s business contains a Services portfolio that has steadily grown over time, including popular services like Apple Pay and AppleCare that have become a major cash cow.
Apple investors are seeking clarity surrounding the impact of tariffs. Our proprietary Zacks Earnings ESP indicator does not conclusively predict another beat for Thursday’s announcement. As stocks can be volatile surrounding earnings announcements, investors should exercise caution.