Analysts expect revenues of $52 billion in fiscal 2Q16
Apple (AAPL) is set to announce its fiscal 2Q16 results on April 25, 2016. Analysts and investors will be looking closely at the results, as Apple is one of the most popular companies in the technology sector. Apple has beaten consensus analysts’ estimates in each of the last six quarters. Analysts expect Apple to report revenue of $52 billion and EPS (earnings per share) of $2 in fiscal 2Q16.
Apple expects revenues for fiscal 2Q16 to be $50 billion–$53 billion. That’s a year-over-year revenue decline of approximately 10%. Apple reported sales of $58 billion in fiscal 2Q15.
EPS estimated at $2
The average EPS (earnings per share) estimate for Apple in fiscal 2Q16 is $2 with a high estimate of $2.20 and a low estimate of $1.88. Apple reported EPS of $2.33 in fiscal 2Q15. In fiscal 1Q16, Apple beat EPS estimates of $3.23 by 1.5%. It beat EPS estimates by 7.9% in fiscal 2Q15.
Among companies in the hardware sector, Western Digital (WDC) is expected to announce its quarterly results on April 26, 2016. Seagate Technology (STX) is expected to announce its quarterly results on April 15, 2016. Hewlett-Packard (HPQ) is slated to announce its results next month on May 19, 2016.
Apple accounts for 15.8% of the Technology Select Sector SPDR ETF (XLK).
Next, let’s see why Apple’s market share increased in spite of its declining PC (personal computer) shipments.