Apple will report Q1 earnings later today when the US market closes. The holiday season is always Apple’s most important quarter. With negative year-on-year revenue growth for the last three quarters can Apple rebound with huge iPhone units sales and solid services growth. And if Apple does show increased revenue and profit will this light a fire under the stock which has yet to pass 2015 highs.
To answer this question we can turn to the finest on Wall Street who handily publish their expectations.
The consensus points to:
Revenue $77.4 B with EPS $3.23
Looking at the raw data we see:
Take the view that “Apple is preparing for the next era of personal technology — the Ambient Paradigm,” contradicting the view held by investors that the iPhone is the “end of the road.”
The analysts are also bullish on iPhone sales for fiscal year 2017 because of growth in the installed Apple base.
- Revenues estimate: $76.8 billion
- EPS: $3.20
Expect solid iPhone sales
- Revenue: $76.9 billion
- EPS: $3.20
Pacific Crest Securities
Expect no dramatic change until the iPhone 8.
- Revenue: $76.5 billion
- EPS: $3.19
Analysts at Bernstein take the view that “pent-up iPhone upgraders exist,” and as a result investors would look forward to the iPhone 8 product release even if December results disappoint.
- Revenue: $77.4 billion
- EPS: $3.23
Maxim Group is super bullish on Apple in both the short, long, and medium term.
Its estimates for the first fiscal quarter’s revenues are around $5 billion more than the consensus, and its 12-month price target is more than $30 ahead of the Nasdaq consensus.
- Revenue: $82.1 billion
- EPS: $3.51
UPDATE AFTER ANOUNCEMENT
Apple numbers in summary:
The Company posted all-time record quarterly revenue of $78.4 billion and all-time record quarterly earnings per diluted share of $3.36. These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
- Revenue: $78.4 billion
- EPS: $3.36
Above expectations. Best estimate from Berntstein.