Zacks analysts cut Apple Q422 earnings estimate

In a research report issued to clients and investors this week, Apple investment analysts at Zacks Research reduced their Q4 2022 earnings estimates for shares of Apple from $1.29 to $1.27.

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Zacks Research analyst A. Ganguly now expects that the iPhone maker will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.29. The consensus estimate for Apple’s current full-year earnings is $6.11 per share. Zacks Research also issued estimates for Apple’s Q2 2023 earnings at $1.57 EPS, FY2023 earnings at $6.53 EPS, Q1 2024 earnings at $2.07 EPS, Q3 2024 earnings at $1.53 EPS and FY2024 earnings at $6.87 EPS.

Based on data from MarketBeat, Apple currently has a consensus rating of “Moderate Buy” and an average target price of $181.68.

AAPL opened at $152.74 on Wednesday. The stock’s 50-day moving average price is $160.31 and its 200 day moving average price is $155.83. Apple has a 12-month low of $129.04 and a 12-month high of $182.94. The firm has a market cap of $2.45 trillion, a price-to-earnings ratio of 25.20, a PEG ratio of 2.03 and a beta of 1.23. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 1.63.

MacDailyNews Take: The analysts’ consensus EPS estimate for Apple’s fiscal Q422 earnings currently stands at $1.26, so Zacks’ estimate is still a penny above the consensus.

Apple’s Q422 (July-September) results are due to be released at the end of October.

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