“That is because Apple is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for AAPL in this report,” Zacks writes. “In fact, the Most Accurate Estimate for the current quarter is currently higher than the broader Zacks Consensus Estimate of $2.37 per share.”
“This suggests that analysts have very recently bumped up their estimates for AAPL, giving the stock a Zacks Earnings ESP of +0.14% heading into earnings season,” Zacks writes. “A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market.”
Read more in the full article here.
MacDailyNews Note: As always, we’ll bring you Apple’s results as soon as they are released, right around 4:30pm EDT tomorrow, April 30th.
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