Apple (AAPL) Earnings Preview and Estimates

AAPL apple earnings preview

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.

Apple News

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 Price

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.

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