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Apple Long

by SignalFactory   ·  July 27, 2021 | 09:00:32 UTC  

Apple Long

by SignalFactory   ·  July 27, 2021 | 09:00:32 UTC  

Apple (AAPL) is set to report its Q2 2021 earnings after the closing bell on Tuesday, and analysts predict strong iPhone sales performance. But a predicted slowdown in future quarters for App Store revenue, thanks to vaccine-related reopenings and tough comparisons to 2020, could send guidance for the coming quarters lower.

Here’s what Wall Street is expecting from Apple, as compiled by Bloomberg, versus how it performed in the same quarter last year.
• Revenue: $73.8 billion expected versus $59.7 billion in Q3 2020
• Earnings per share: $1.01 expected versus $2.58 in Q3 2020
• iPhone revenue: $34.5 billion expected versus $26.4 billion in Q3 2020
• Services revenue: $16.3 billion expected versus $13.2 billion in Q3 2020

The Yahoo! A finance roundup of 25 analysts shows that even the most pessimistic of them are expecting substantial revenue growth. The low estimate is $65.68B, while the high end is $77.15B.

Of the 28 analysts who provided a forecast for earnings per share, the consensus number is bang-on $1, which is almost 50% up on last year.

The optimism continues when it comes to the AAPL stock price. The PED30 roundup has the consensus target at $161, compared to yesterday’s close of $148.56. The top end is represented by Wedbush and Raymond James, at $185, while New Street somehow came up with the low of $90.

It’s not just iPhone sales that will drive the quarter, though. Mohan says pandemic-driven iPad and Mac sales will give Apple a boost, as well.

While hardware sales are expected to prove robust for the quarter, analysts say App Store sales could be on the downslope as people start to venture from their couches following coronavirus shutdowns.

But Apple’s next-generation iPhone, let’s call it the iPhone 13 for now, could help offset future App Store sales slowdown. That device, which is expected to launch in September, barring any unforeseen issues, could help push sales of the smartphone even higher than the iPhone 12, thanks to the fact that people going back into the world will want the latest devices to show off and that take advantage of the latest tech.

According to Bloomberg, Apple told its suppliers to build 90 million iPhones. That’s a massive jump from the 75 million the company ordered in 2020.

Apple Long (Buy)
Enter at: 150.54
T.P_1:  156.27
T.P_2: 163.09
T.P_3: 169.05
T.P_4: 176.25
T.P_5: 190.65
T.P_6: 200.20
S.L: 139.71

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