Wall Street analysts expect that Apple Inc. (NASDAQ:AAPL) will report $57.60 billion in sales for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Apple’s earnings. The lowest sales estimate is $56.68 billion and the highest is $58.30 billion. Apple posted sales of $61.14 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 5.8%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, May 7th.

According to Zacks, analysts expect that Apple will report full year sales of $254.49 billion for the current year, with estimates ranging from $249.26 billion to $258.68 billion. For the next fiscal year, analysts expect that the company will report sales of $262.37 billion, with estimates ranging from $250.78 billion to $270.58 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Apple.

Apple (NASDAQ:AAPL) last issued its earnings results on Tuesday, January 29th. The iPhone maker reported $4.18 EPS for the quarter, beating the Zacks’ consensus estimate of $4.17 by $0.01. Apple had a net margin of 22.72% and a return on equity of 50.92%. The business had revenue of $84.31 billion during the quarter, compared to analysts’ expectations of $84.07 billion.

Several research firms recently issued reports on AAPL. BidaskClub cut shares of Apple from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. HSBC cut shares of Apple from a “buy” rating to a “hold” rating and set a $181.37 price objective for the company. in a research report on Sunday, December 9th. Needham & Company LLC cut their price objective on shares of Apple from $200.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, January 3rd. Macquarie restated a “buy” rating and set a $222.00 price objective on shares of Apple in a research report on Monday, December 10th. Finally, Rosenblatt Securities cut their price objective on shares of Apple from $165.00 to $150.00 and set a “neutral” rating for the company in a research report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $193.19.

In other Apple news, Director Arthur D. Levinson sold 1,521 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $167.71, for a total transaction of $255,086.91. Following the completion of the transaction, the director now owns 1,134,804 shares of the company’s stock, valued at $190,317,978.84. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.05% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Semmax Financial Advisors Inc. purchased a new position in Apple in the fourth quarter worth approximately $50,000. Portfolio Solutions LLC purchased a new position in Apple in the fourth quarter worth approximately $76,000. Contravisory Investment Management Inc. lifted its stake in Apple by 30.6% in the fourth quarter. Contravisory Investment Management Inc. now owns 614 shares of the iPhone maker’s stock worth $97,000 after acquiring an additional 144 shares during the last quarter. Truehand Inc purchased a new position in Apple in the fourth quarter worth approximately $108,000. Finally, INR Advisory Services LLC purchased a new position in Apple in the fourth quarter worth approximately $124,000. 56.40% of the stock is owned by institutional investors and hedge funds.

Apple stock opened at $186.12 on Thursday. Apple has a 12-month low of $142.00 and a 12-month high of $233.47. The stock has a market cap of $889.20 billion, a P/E ratio of 15.63, a PEG ratio of 1.85 and a beta of 1.13. The company has a quick ratio of 1.25, a current ratio of 1.30 and a debt-to-equity ratio of 0.79.

About Apple

Apple Inc designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.

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