Apple (AAPL) will report third-quarter earnings on October 27, 2022, after the market close, in a market that is full of threats. The analyst’s consensus estimate for the Earnings Per Share is $1.26, up $0.03 from a year ago. The revenue is expected at $88.79 billion, almost 6.5% higher than the same quarter in 2021.
Apple reported $1.20 EPS for the second quarter, beating the consensus estimates of $1.14. The revenue came at $82.96 billion during Q2, up 1.9% on a year-over-year basis, slightly below the forecasts of $82.97 billion. The company reported $6.06 earnings per share in 2021. Price-to-earnings ratio currently stands at 24.8. The dividend yield is at 0.64% and the most recent dividend was $0.23 on August 5, 2022. Earnings for APPL are expected to increase by 6.38% in the full year, from $6.11 to $6.50 per share.
The earnings conference call will be on October 27, at 5:00 PM Eastern Time.
Earlier today the company reported, that it will raise its prices on its Music, TV+ subscriptions, and its Apple One bundle service. The Apple Music monthly subscription increased to $10.99 from $9.99, the Apple TV+ plan now increased to $6.99 from $4.99. The Apple One monthly subscription package rose to $16.95 from $14.95.
The company raised the prices because of increasing licensing costs in a high-inflation environment. Apple’s services sector reported $16.9 billion in revenue for the second quarter.
Apple closed 1.48% higher today at $149.45 as the broad market continues the rebound on hopes of a Fed pivot in the next FOMC meetings. Apple stock hit an all-time high at $182.94 on January 4, 2022. AAPL stock has lost 15.84% since the beginning of the year and is down 2.26% in the last three months. The stock has a 52-week trading range between $129.04 to $182.94. Apple’s market capitalization now stands at $2.37 trillion.
On October 17, Morgan Stanley reiterated Apple stock at Overweight and cut the price target from $180 to $177, while Credit Suisse on October 13, also reiterated Apple at Outperform and reduced the price target from $201 to $190.
Nikolas has been involved in the finance industry for over fifteen years spanning across Europe and USA with a depth of knowledge and experience within many aspects of the financial markets. Nikolas gained several years experience with some of the Europe’s leading Brokers, as equity analyst, and trader managing accounts for both Private and Corporate Investors. He enjoys both the fundamental and technical aspects of trading focusing on stock markets and all FX majors. Currently, Nikolas provides analysis and comments to online financial publications. Educational background in Economics (BSc), and Finance (MSc).