Apple to report fiscal Q3 numbers July 26

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Tech titan Apple (AAPL) will report its fiscal third-quarter numbers after the market close on July 26. The company is expected to post quarterly earnings of $1.39 per share, down from $1.85 during the same period last year. The stock is starting to recover, but remains down 6.0% on the year.

Technical Analysis

AAPL was recently trading at $98.90, down $28.19 from its 12-month high and $9.43 above its 12-month low. Technical indicators for AAPL are bearish and the stock is showing signs of a possible trend reversal. The stock has recent support above $94.40 and recent resistance below $101.00. Of the 31 analysts who cover the stock, 23 rate it a “strong buy”, three rate it a “buy”, four rate it a “hold”, and one rates it a “strong sell”. The stock receives S&P Capital IQ’s 5 STARS “Strong Buy” ranking.

Analysts' Thoughts

Apple shares have been under pressure for the last year, with Wall Street showing concern over  iPhone sales, as well as its exposure in China. The company’s earnings have been declining, but even with the lower earnings, Apple still enjoy big profits, and with new iPhone models on the horizon, the stock should remain stable barring a huge earnings miss. Wall Street has already priced the earnings decline into the stock, and with a current P/E of just 11, there is not a lot of downside risk. As always, all eyes will be on Apple’s report, and the greatest attention will be paid to iPhone sales. The iPhone accounts for a massive 70% of the company’s overall revenue, so it is understandable why so much attention is placed on iPhone sales numbers. This is typically Apple’s weakest quarter, and this could mark the first time that  iPhone sales have fallen year over year for two straight quarters. Another problem is that Apple’s margins have probably contracted as well, a result of the lower-cost iPhone SE. While the company will almost certainly post results weaker than shareholders are used to, there is already so much negativity priced into the stock that the downside appears to be limited, and there is plenty of upside potential if there is even a hint of strength in the iPhone segment. The short-term outlook may be less than impressive for the stock, but the long-term outlook is solid, as iPhone shipments are expected to grow again towards the end of the year when the new iPhone models are launched.

AAPL
About Apple Inc.

Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple's total revenue. In addition, Apple offers its customers a variety of services such as Apple Music, iCloud, Apple Care and Apple Pay, among others. Apple's products run internally developed software and semiconductors, and the firm is well known for its integration of hardware, software and services. Apple's products are distributed online as well as through company-owned stores and third-party retailers. The company generates about 40% of its revenue from the Americas, with the remainder earned internationally.

  • Last Price:
    $235.87
  • Previous Close:
    $236.21
  • Change:
    $-0.34 (-0.14%)
  • Open:
    $234.90
  • Volume:
    24,091,021
  • Average Volume (100 Day):
    26,966,617
  • Market Capitalization:
    $1,065.9 B
  • Day's Range:
    $234.67 - $238.13
  • Dividend Yield:
    1.30%
  • 52-week Range:
    $238 - $142.00
  • P-E:
    18.70
  • EPS:
    $11.74
  • Earnings Date:
    10/30/19
  • Ex Dividend Date:
    8/9/19
  • Sector:
    Technology
  • Industry:
    Consumer Electronics
  • Analyst Average Recommendation:
    Moderate Buy

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