“Apple will release the financial results for its 2016 third quarter after the market close on Tuesday, July 26,” Amanda Schiavo reports for TheStreet. “Analysts are expecting the tech giant to report a year over year decline in earnings per share and revenue for the three month period ended in June.”
“For the most recent quarter analysts are looking for earnings of $1.38 per share on revenue of $42.01 billion,” Schiavo reports. “Last year Apple posted earnings of $1.85 per share on revenue of $49.6 billion for the 2015 third quarter.”
“”Apple has been in decline for the last few quarters, it’s going to return to growth,” Piper Jaffray senior research analyst and Apple expert Gene Munster said on Bloomberg TV‘s ‘Bloomberg Go’ on Tuesday morning,” Schiavo reports. “‘I think when the growth returns, going from down 8% in 2016 they call it up 10% in 2017 in terms of revenue, I think that’s going to be the key metric,’ Munster continued.”
Read more in the full article here.
MacDailyNews Take: The strength of iPhone 7 sales are going to surprise many observers.
SEE ALSO:
Stifel reduces iPhone estimates, remains bullish on Apple stock
What do the analysts expect from Apple’s Q316 earnings? – July 14, 2016
Apple to release Q316 earnings, webcast live conference call on July 26th – June 28, 2016
Let’s not overlook the .01 in the Anal-ysts estimates of $42.01 Billion. That’s rich. Do I hear .012 ?
“MacDailyNews Take: The strength of iPhone 7 sales are going to surprise many observers.”.
We believe so and hope so MDN.
iPhone ASP will be negatively impacted by iPhone SE sales, but those same sales are going to push total units up.
June quarter results will be a grab bag of surprises. September quarter will be better overall with the big surprise coming from December quarter results.
Microsoft up over 4% on quarterly earnings beat, likely pushing the P/E to around 43 or so. Apple will miss and P/E will end up below 10. Microsoft is spinning donuts around Apple in share gains thanks to Tim Cook.
Apple is taking plenty and giving back next to nothing. There’s nothing much to look forward to from Apple except new iPhones. Plenty of shareholders are going to bid good riddance to Apple as the stock continues to stagnate. However, it will make it that much easier for Apple to buy back shares of an unwanted stock. Everyone claimed Microsoft was practically dead, but it appears Apple is the one being buried.
Msft gross profit 60billion.
Aapl gross profit 93 billion.
No one is dead or getting buried.