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Wall Street's Insights Into Key Metrics Ahead of Apple (AAPL) Q2 Earnings
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The upcoming report from Apple (AAPL - Free Report) is expected to reveal quarterly earnings of $1.92 per share, indicating an increase of 16.4% compared to the year-ago period. Analysts forecast revenues of $109.48 billion, representing an increase of 14.8% year over year.
The consensus EPS estimate for the quarter has been revised 3.2% higher 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Apple metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Net Sales by Category- Wearables, Home and Accessories' stands at $7.68 billion. The estimate indicates a year-over-year change of +2.1%.
The consensus among analysts is that 'Net Sales by Category- iPhone' will reach $56.71 billion. The estimate indicates a change of +21.1% from the prior-year quarter.
Analysts expect 'Net Sales- Services' to come in at $30.39 billion. The estimate suggests a change of +14.1% year over year.
Analysts forecast 'Net Sales by Category- Mac' to reach $8.18 billion. The estimate points to a change of +2.9% from the year-ago quarter.
Based on the collective assessment of analysts, 'Net Sales- Products' should arrive at $79.20 billion. The estimate suggests a change of +15.3% year over year.
Analysts' assessment points toward 'Net Sales by Category- iPad' reaching $6.63 billion. The estimate indicates a change of +3.6% from the prior-year quarter.
The average prediction of analysts places 'Gross margin- Services' at $23.28 billion. Compared to the present estimate, the company reported $20.18 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Gross margin- Products' will likely reach $28.90 billion. Compared to the current estimate, the company reported $24.68 billion in the same quarter of the previous year.
Analysts predict that the 'Cost of Sales- Services' will reach $7.11 billion.
It is projected by analysts that the 'Cost of Sales- Products' will reach $50.36 billion.
Shares of Apple have demonstrated returns of +9% over the past month compared to the Zacks S&P 500 composite's +9.3% change. 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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Wall Street's Insights Into Key Metrics Ahead of Apple (AAPL) Q2 Earnings
The upcoming report from Apple (AAPL - Free Report) is expected to reveal quarterly earnings of $1.92 per share, indicating an increase of 16.4% compared to the year-ago period. Analysts forecast revenues of $109.48 billion, representing an increase of 14.8% year over year.
The consensus EPS estimate for the quarter has been revised 3.2% higher 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
That said, let's delve into the average estimates of some Apple metrics that Wall Street analysts commonly model and monitor.
The consensus estimate for 'Net Sales by Category- Wearables, Home and Accessories' stands at $7.68 billion. The estimate indicates a year-over-year change of +2.1%.
The consensus among analysts is that 'Net Sales by Category- iPhone' will reach $56.71 billion. The estimate indicates a change of +21.1% from the prior-year quarter.
Analysts expect 'Net Sales- Services' to come in at $30.39 billion. The estimate suggests a change of +14.1% year over year.
Analysts forecast 'Net Sales by Category- Mac' to reach $8.18 billion. The estimate points to a change of +2.9% from the year-ago quarter.
Based on the collective assessment of analysts, 'Net Sales- Products' should arrive at $79.20 billion. The estimate suggests a change of +15.3% year over year.
Analysts' assessment points toward 'Net Sales by Category- iPad' reaching $6.63 billion. The estimate indicates a change of +3.6% from the prior-year quarter.
The average prediction of analysts places 'Gross margin- Services' at $23.28 billion. Compared to the present estimate, the company reported $20.18 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Gross margin- Products' will likely reach $28.90 billion. Compared to the current estimate, the company reported $24.68 billion in the same quarter of the previous year.
Analysts predict that the 'Cost of Sales- Services' will reach $7.11 billion.
It is projected by analysts that the 'Cost of Sales- Products' will reach $50.36 billion.
View all Key Company Metrics for Apple here>>>Shares of Apple have demonstrated returns of +9% over the past month compared to the Zacks S&P 500 composite's +9.3% change. 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 >>>> .