Apple will report their fiscal 2021 third quarter (Q321) earnings results on Tuesday, July 27, 2021 right after market close. The analysts’ consensus expectations are growing stronger in recent days.
The Wall Street consensus view is that Apple (ticker: AAPL) will post revenue of $72.9 billion, up 22% from a year earlier, with profits of $1 a share. When it reported its March quarter results, Apple didn’t issue specific financial forecasts for the June quarter, but said it expects “strong double digit” revenue growth on a year-over-year basis. Management also predicted a bigger quarter-over-quarter decline than in prior years, due to the later launch last year of the iPhone 12 and continuing component shortages…
In a research note Tuesday, UBS analyst David Vogt lifted his outlook for the quarter, citing strong demand for both iPhones and Macs. His forecast for the quarter went to $74.7 billion in revenue and profits of $1.01 a share, from $71.3 billion and 95 cents a share. Vogt repeated his Buy rating, and raised his target for the stock price to $160, from $155.
Monness Crespi Hardt analyst Brian White repeated a Buy rating and $180 stock-price target, saying that the Street consensus for the quarter is far too conservative. He expects revenue of $80.33 billion, which would be up 35% year over year, with profits of $1.16 a share.
MacDailyNews Note: As always, we will have the results for you as soon as they are released, right around 1:30pm PDT / 4:30pm EDT. Just check our homepage on that date at that time.
The company will also conduct a conference call with analysts to discuss third fiscal quarter results is scheduled for Tuesday, July 27, 2021 at 2:00pm PDT / 5:00pm EDT. We will also cover the Apple Q321 conference call with live notes. Visit check our homepage on that date around 1:45 pm PDT / 4:45 pm EDT for the link.
