Apple Inc. is scheduled to report its financial earnings on January 13, 2017. The company posted an earnings per share (EPS) of $1.67 in the latest quarter, topping the analysts’ EPS estimate of $1.66.
There have been a $0.01 per share difference between the expected and actual EPS, suggesting a 0.6% earnings surprise.
Several analysts have issued their Estimated Earnings analysis for the tech giant, in which 37 analysts have estimated an Average Earnings estimate of $3.22 per share, with a projected Low Estimate of $3.11 per share and a High Estimate of $3.77 per share.
Elsewhere in the Revenue Estimates, 36 analysts have issued their consensus Average Revenue Estimates of 77.39 billion for the tech giant. Analysts projected a 75.1 billion Low Revenue Estimate and an 86.73 billion High Revenue Estimate, with the company’s previous sales totalling to 75.87 billion.
Apple Inc Expands U.S. Manufacturing
Domestic manufacturing is likely expanding right now, as President-elect Donald Trump is set to take office in just 10 days. Several domestic companies have begun to cave in over the political pressure, shifting investment plans to aim at U.S. facilities.
In fact, Apple Inc has been drawn into the debate with an unclear outcome. However, the tech giant is reportedly proposing an expansion of its operations in Mesa, Arizona, and kick-in "high-tech manufacturing," according to sources.
Apple is likely to focus on assembling the data center cabinets at the facility, which would result for use in Apple’s other data center facilities globally.
The Mac maker is currently assembling the data center gear at each site, but the proposed plan is expected to consolidate the assembling in Mesa. Based on reports, the finished equipments are set for shipping to other Apple data centers within the U.S.
Vetr upgraded its evaluation on Apple Inc. stock from a “buy” rating to a “strong-buy” rating on Tuesday. The brokerage currently has a target price of $133.51 on the company’s stock, with a price target settling to a 12.09% potential upside from the stock’s earlier close.
Meanwhile, other analysts have also issued their reports on the stock, with BMO Capital Markets reiterating an “outperform” rating and set a target price of $140.00, up from $116.00 on September 19th.
Current Stance of Apple Inc Stocks
The chart below illustrates Apple shares’ stance amid heightened concerns before President-elect Donald Trump takes offices in 10 days.
The recent trend available suggests that shares could still rally or consolidate in a bullish tone as stock price settled away from its support level. Thus, shares have showed four straight candles on the green, adding an optimism for a strong-buy.
Given that Apple Inc shares were soaring, we concluded that the shares would continue to rally as stock prices posted consecutive gains and is significantly positioned away from its current support level.
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