In its upcoming report, Apple (AAPL) is predicted by Wall Street analysts to post quarterly earnings of $1.39 per share, reflecting an increase of 7.8% compared to the same period last year. Revenues are forecasted to be $88.32 billion, representing a year-over-year decrease of 2%.
Over the last 30 days, there has been a downward revision of 1.7% 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 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 it’s common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts’ forecasts for key metrics can yield valuable insights.
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.
The average prediction of analysts places ‘Revenue- Wearables, Home and Accessories’ at $9.33 billion. The estimate suggests a change of -3.3% year over year.
The consensus among analysts is that ‘Revenue- iPhone’ will reach $44.17 billion. The estimate points to a change of +3.6% from the year-ago quarter.
Analysts expect ‘Net Sales- Services’ to come in at $21.35 billion. The estimate indicates a change of +11.3% from the prior-year quarter.
Based on the collective assessment of analysts, ‘Revenue- Mac’ should arrive at $8.29 billion. The estimate indicates a year-over-year change of -28%.
The consensus estimate for ‘Net Sales- Products’ stands at $67.64 billion. The estimate points to a change of -4.7% from the year-ago quarter.
Analysts predict that the ‘Revenue- iPad’ will reach $5.86 billion. The estimate indicates a year-over-year change of -18.4%.
According to the collective judgment of analysts, ‘Geographic Revenue- Greater China’ should come in at $17.34 billion. The estimate indicates a change of +12.1% from the prior-year quarter.
The collective assessment of analysts points to an estimated ‘Geographic Revenue- Europe’ of $22.22 billion. The estimate points to a change of -2.5% from the year-ago quarter.
It is projected by analysts that the ‘Geographic Revenue- Rest of Asia Pacific’ will reach $6.04 billion. The estimate suggests a change of -5.2% year over year.
Analysts forecast ‘Geographic Revenue- Japan’ to reach $5.52 billion. The estimate points to a change of -3.1% from the year-ago quarter.
Analysts’ assessment points toward ‘Geographic Revenue- Americas’ reaching $38.04 billion. The estimate suggests a change of -4.4% year over year.
The combined assessment of analysts suggests that ‘Gross margin- Services’ will likely reach $15.16 billion. The estimate compares to the year-ago value of $13.52 billion.
View all Key Company Metrics for Apple here>>>
Shares of Apple have experienced a change of -1% in the past month compared to the -2.2% 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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