Apple Inc (AAPL)

[Investors3]

Apple primed to again beat earnings estimates
Tuesday, October 8, 2024 5:47 pm
1 Comment

Apple has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 2.90%.

Zacks Equity Research:

For the last reported quarter, Apple came out with earnings of $1.40 per share versus the Zacks Consensus Estimate of $1.34 per share, representing a surprise of 4.48%. For the previous quarter, the company was expected to post earnings of $1.51 per share and it actually produced earnings of $1.53 per share, delivering a surprise of 1.32%.

Apple has an Earnings ESP of +1.94% at the moment, suggesting that analysts have grown bullish on its near-term earnings potential. When you combine this positive Earnings ESP with the stock’s Zacks Rank #3 (Hold), it shows that another beat is possibly around the corner.

MacDailyNews Note: Apple’s conference call to discuss fourth fiscal quarter earnings results and business updates is scheduled for Thursday, October 31, 2024 – yes, Halloween – after market close, right around 1:20 p.m. PT / 4:30 p.m. ET.

Apple will follow that with a conference call with analysts to discuss results and business updates at 2:00 p.m. PT / 5:00 p.m. ET.

Listen to the conference call live here.

This stream is best experienced on an iPhone 7 or later, iPad (5th generation or later), or iPod touch (7th generation) using Safari on iOS 12 or later; or a Mac using Safari on macOS Mojave 10.14 or later. Streaming to your TV requires an AirPlay 2–capable device, or via AirPlay to an Apple TV (2nd generation or later) with the latest Apple TV software or tvOS. Other platforms may also be able to access the stream using recent versions of Chrome, Firefox, or Microsoft Edge (MSE, H.264, and AAC required).

Currently, analysts’ consensus expects revenue of $94.4 billion and EPS of $1.57.

https://macdailynews.com/2024/10/08/apple-primed-to-again-beat-earnings-estimates/#google_vignette