Consumer Electronics
What Analysts Are Saying About Apple After Earnings
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Apple Inc. (NASDAQ: AAPL) released fiscal third-quarter financial results after markets closed Tuesday. There was a lot of noise surrounding this earnings report, as Apple’s fellow FAANG stocks Netflix and Facebook took a dive after their earnings reports. However, Apple managed to weather the storm, and so did its analysts.
24/7 Wall St. has included some highlights from Apple’s earnings report, as well as what analysts are saying about the stock after the fact.
The iPhone giant said that it had $2.34 in earnings per share (EPS) on $53.3 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $2.18 in EPS on $52.34 billion in revenue. In the same period of last year, Apple posted EPS of $1.67 on revenue of $45.41 billion.
In this latest quarter, the firm reported its product sales as follows:
Regarding guidance for the fiscal fourth quarter, the company expects to see revenues in the range of $60 billion to $62 billion and gross margin of 38.0% to 38.5%. The consensus estimates call for $2.65 in EPS on $59.57 billion in revenue.
Here’s what analysts had to say:
Shares of Apple were last seen up 4% at $198.25 on Wednesday, with a consensus analyst price target of $203.22 and a 52-week trading range of $149.16 to $199.26.
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