Apple Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Author: Avi Kapoor | May 02, 2024 09:52am

Apple Inc. (NASDAQ:AAPL) is expected to release earnings results for its second quarter, after the closing bell on May 2.

Analysts expect the Cupertino, California-based company to report quarterly earnings at $1.50 per share, up from $1.42 per share in the year-ago quarter. Apple is projected to report quarterly revenue of $90.01 billion, compared to $88.5 billion in the year-earlier quarter, according to data from Benzinga Pro.

Apple recently acknowledged a recurring issue with iPhone alarms failing to sound, following complaints from users on social media platforms like Twitter and TikTok.

Apple shares fell 0.6% to close at $169.30 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Citigroup analyst Atif Malik maintained a Buy rating and cut the price target from $220 to $210 on April 29. This analyst has an accuracy rate of 83%.
• Maxim Group analyst Tom Forte initiated coverage on the stock with a Hold rating and a price target of $178 on April 17. This analyst has an accuracy rate of 80%.
• Loop Capital analyst Ananda Baruah maintained a Hold rating and cut the price target from $185 to $170 on April 1. This analyst has an accuracy rate of 77%.
• Barclays analyst Tim Long maintained an Underweight rating and cut the price target from $160 to $158 on Feb. 2. This analyst has an accuracy rate of 75%.
• B of A Securities analyst Wamsi Mohan upgraded the stock from Neutral to Buy and boosted the price target from $208 to $225 on Jan. 18. This analyst has an accuracy rate of 75%.

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Posted In: AAPL