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Countdown to Apple (AAPL) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
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In its upcoming report, Apple (AAPL - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.88 per share, reflecting an increase of 19.8% compared to the same period last year. Revenues are forecasted to be $108.75 billion, representing a year-over-year increase of 15.6%.
Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Apple metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Net Sales by Category- Wearables, Home and Accessories' will likely reach $7.81 billion. The estimate points to a change of +5.4% from the year-ago quarter.
Analysts forecast 'Net Sales by Category- iPhone' to reach $53.97 billion. The estimate indicates a change of +21.1% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Services' at $31.38 billion. The estimate suggests a change of +14.5% year over year.
The consensus estimate for 'Net Sales by Category- Mac' stands at $8.67 billion. The estimate points to a change of +7.8% from the year-ago quarter.
The consensus among analysts is that 'Net Sales- Products' will reach $77.36 billion. The estimate points to a change of +16.1% from the year-ago quarter.
Analysts predict that the 'Net Sales by Category- iPad' will reach $6.92 billion. The estimate indicates a year-over-year change of +5.1%.
Analysts expect 'Gross margin- Services' to come in at $24.04 billion. Compared to the present estimate, the company reported $20.73 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Gross margin- Products' should arrive at $28.09 billion. Compared to the current estimate, the company reported $22.99 billion in the same quarter of the previous year.
According to the collective judgment of analysts, 'Cost of Sales- Services' should come in at $7.35 billion.
The collective assessment of analysts points to an estimated 'Cost of Sales- Products' of $49.31 billion.
Apple shares have witnessed a change of +17.4% in the past month, in contrast to the Zacks S&P 500 composite's +0.8% move. With a Zacks Rank #3 (Hold), AAPL is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
View the Zacks #1 Rank List
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Countdown to Apple (AAPL) Q3 Earnings: A Look at Estimates Beyond Revenue and EPS
In its upcoming report, Apple (AAPL - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $1.88 per share, reflecting an increase of 19.8% compared to the same period last year. Revenues are forecasted to be $108.75 billion, representing a year-over-year increase of 15.6%.
Over the last 30 days, there has been an upward revision of 0.3% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Apple metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Net Sales by Category- Wearables, Home and Accessories' will likely reach $7.81 billion. The estimate points to a change of +5.4% from the year-ago quarter.
Analysts forecast 'Net Sales by Category- iPhone' to reach $53.97 billion. The estimate indicates a change of +21.1% from the prior-year quarter.
The average prediction of analysts places 'Net Sales- Services' at $31.38 billion. The estimate suggests a change of +14.5% year over year.
The consensus estimate for 'Net Sales by Category- Mac' stands at $8.67 billion. The estimate points to a change of +7.8% from the year-ago quarter.
The consensus among analysts is that 'Net Sales- Products' will reach $77.36 billion. The estimate points to a change of +16.1% from the year-ago quarter.
Analysts predict that the 'Net Sales by Category- iPad' will reach $6.92 billion. The estimate indicates a year-over-year change of +5.1%.
Analysts expect 'Gross margin- Services' to come in at $24.04 billion. Compared to the present estimate, the company reported $20.73 billion in the same quarter last year.
Based on the collective assessment of analysts, 'Gross margin- Products' should arrive at $28.09 billion. Compared to the current estimate, the company reported $22.99 billion in the same quarter of the previous year.
According to the collective judgment of analysts, 'Cost of Sales- Services' should come in at $7.35 billion.
The collective assessment of analysts points to an estimated 'Cost of Sales- Products' of $49.31 billion.
View all Key Company Metrics for Apple here>>>Apple shares have witnessed a change of +17.4% in the past month, in contrast to the Zacks S&P 500 composite's +0.8% move. With a Zacks Rank #3 (Hold), AAPL is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .