Will Apple Beat Analysts’ Estimates in Fiscal Q3 2018?

In this series, we’ll look at analysts’ estimates for Apple’s fiscal third-quarter results, which it’s set to release on July 31.

Adam Rogers - Author

Jul. 26 2018, Published 1:03 p.m. ET

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Revenue estimate of $52.34 billion

In this series, we’ll look at analysts’ earnings and revenue estimates for Apple’s (AAPL) fiscal third-quarter results, which it’s set to release on July 31.

We’ll also compare analysts’ price targets and look at the company’s key growth drivers and business segments in detail. Peer companies Amazon (AMZN) and HP (HPQ) are expected to release their earnings on July 26 and August 21, respectively.

In the fiscal third quarter, analysts expect Apple’s revenue to rise 15.3% YoY (year-over-year) to $52.34 billion from $45.41 billion and its non-GAAP (generally accepted accounting principle) EPS to rise 30.5% YoY to $2.18 from $1.67.

Analysts have a high revenue estimate of $53.49 billion and a low estimate of $49 billion for Apple in the quarter. They also have a high earnings estimate of $2.28 and a low estimate of $2.1.

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Apple has beaten earnings estimates in each of the last four quarters

As we can see in the chart above, Apple has beaten analysts’ earnings estimates in each of the last four quarters. It beat analysts’ fiscal second-quarter earnings estimate of $2.67 by 2.20% with EPS of $2.73 and their fiscal first-quarter earnings estimate of $3.86 by 0.80% with EPS of $3.89.

In the fiscal fourth quarter of 2017, analysts expected Apple to post EPS of $1.87. Instead, it reported EPS of $2.07, 10.7% higher than the estimate. In the fiscal third quarter of 2017, its EPS were $1.67, 6.4% higher than analysts’ estimate of $1.57.


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