How Analysts View Revenue Growth and Price Target for Apple



Revenue growth of 10.1% in fiscal 1Q18

Analysts expect Apple’s (AAPL) revenues to rise 10.1% YoY (year-over-year) to ~$86.2 billion in fiscal 1Q18 (the quarter ended December 2017). Apple’s revenues are expected to rise 30.0% year-over-year to $68.8 billion in fiscal 2Q18.

Analysts expect its revenues to grow 19.7% YoY to ~$274.3 billion in fiscal 2018, 2.3% YoY to ~$280.6 billion in fiscal 2019, and 2.6% YoY to $287.9 billion in fiscal 2020.

Analysts expect Apple’s non-GAAP (generally accepted accounting principles) EPS (earnings per share) to rise 12.2% YoY to $3.77 in fiscal 1Q18, 38.6% YoY to $2.91 in fiscal 2Q18, 24.4% YoY to $11.46 in fiscal 2018, and 6.5% YoY to $12.21 in fiscal 2019.

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12-month price target of $193 for Apple

Apple’s stock price rose almost 50% YoY in 2017. Of the 40 analysts covering Apple (AAPL), 33 recommended a “buy,” none recommended a “sell,” and seven recommended a “hold.”

Analysts’ average 12-month target price for Apple is $187.58, with a median target estimate of $193.00. Apple is trading at a discount of 12.0% to analysts’ median estimate.

Apple’s peers Fitbit (FIT), HP Inc. (HPQ), and Western Digital (WDC) are trading at discounts of 4.0%, 12.6%, and 45.0%, respectively, to median price target estimates.


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