Will Apple Bring Good Results Again This Quarter?

Court: N.D. California

Case: 4:19-cv-02033

By the end of this month, we should have news about Apple's latest results, and there are signs it might beat expectations again.

According to Sacks, Apple has a +4.30% Earnings ESP, meaning analysts’ most recent earnings estimates are higher than the consensus. Historically, when this happens and the company has a Zacks Rank of 3 (Hold) or better — which Apple does — there’s about a 70% chance of an earnings beat. In a nutshell, all good news.

Last quarter, AAPL reported earnings per share of $1.61, just below the expected $1.65. The quarter before that, it beat estimates with $2.40 vs. $2.36. Current projections put the upcoming EPS in the $1.40 to $1.42 range.

With rising estimates and a decent track record, Apple might be on track for another beat. That said, broader market conditions and company guidance will still play a big role.

In other news, Apple is still paying for a few more weeks the $490M settlement over hiding declining iPhone demand in China. If you invested back then, it’s worth checking if you’re eligible and file a claim.