Market Overview

Apple Earnings: Wall Street & Main Street Are Increasingly Bullish

Share:
Apple Earnings: Wall Street & Main Street Are Increasingly Bullish

Apple Inc. (NASDAQ: AAPL) is scheduled to report its fiscal second quarter financial results on Monday, April 27 after the market closes.

According to Estimize, the crowd is slightly more bullish than the Street as earnings loom. The former expects EPS of $2.27 on revenue of $57.302 billion, while Wall Street research firms project consensus EPS of $2.18 on revenue of $56.336 billion. Both these estimates stand substantially above the company’s guidance of $53.5 billion in revenue.

Moreover, both the Street and the crowd are expecting EPS well above those reported in the same quarter last year, which came in at $1.66.

Related Link: 2 Apple Charts This Expert Is Tracking

The graph below shows Apple’s history of estimates versus actual earnings:

Interestingly, Estimize also offers the possibility of checking out how estimates have changed over the quarter.

Both Main and Wall Street have been consistently increasing their estimates since January. Bullishness is at its highest level in the quarter as earnings loom.

What Analysts Are Saying

In a recently published report, analysts at Cowen & Company reiterated an Outperform rating on Apple, accompanied by a $135 price target.

A previous Benzinga article reads: “The analysts believe that there could be upside to the stock, despite FX headwinds and high expectations. Despite the FX headwinds, Cowen & Company has maintained its revenue, gross margin and EPS guidance for FQ2:15 at $58.4 billion, 39.5 percent and $2.29, respectively, higher than the consensus projections.”

In the month of April alone, several other research firms have weighed in on Apple. FBR Capital recently initiated coverage with an Outperform, and Maxim Group did the same with a Hold rating. For its part, Raymond James downgraded the stock to Market Perform, while SocGen demoted it to Hold.

Latest Ratings for AAPL

DateFirmActionFromTo
Jan 2020MaintainsNeutral
Jan 2020MaintainsOverweight
Jan 2020MaintainsBuy

View More Analyst Ratings for AAPL
View the Latest Analyst Ratings

Posted-In: Cowen & CompanyAnalyst Color Previews Top Stories Hot Analyst Ratings Tech Trading Ideas Best of Benzinga

 

Related Articles (AAPL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
PDDKeyBancMaintains50.0
PAGSKeyBancMaintains40.0
LBKeyBancUpgrades25.0
INTUKeyBancMaintains320.0
BILLKeyBancMaintains47.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com