Zacks Research Has Bullish Estimate for Apple Q3 Earnings

Key Points

• Zacks Research has raised its estimate for Apple's Q3 2026 earnings per share to $1.66, from a previous forecast of $1.65, while the consensus estimate for the current full-year earnings stands at $7.28 per share.
• Apple's latest quarterly earnings report revealed $1.57 in EPS, exceeding analysts' expectations, with revenue of $94.04 billion, up 9.6% from the previous year.
• Analysts maintain a Moderate Buy consensus rating on Apple, with an average price target of $248.29, supported by multiple upgrades in recent research reports.

Apple Inc. (NASDAQ:AAPL - Free Report) - Zacks Research upped their Q3 2026 earnings per share (EPS) estimates for shares of Apple in a report released on Monday, October 13th. Zacks Research analyst Team now anticipates that the iPhone maker will post earnings per share of $1.66 for the quarter, up from their previous forecast of $1.65. The consensus estimate for Apple's current full-year earnings is $7.28 per share. Zacks Research also issued estimates for Apple's FY2026 earnings at $7.59 EPS and Q3 2027 earnings at $1.87 EPS.

Apple (NASDAQ:AAPL - Get Free Report) last issued its earnings results on Thursday, July 31st. The iPhone maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. Apple had a return on equity of 170.91% and a net margin of 24.30%.The business had revenue of $94.04 billion during the quarter, compared to the consensus estimate of $88.64 billion. During the same quarter last year, the company earned $1.40 EPS. The firm's revenue was up 9.6% compared to the same quarter last year.

AAPL has been the subject of a number of other research reports. Seaport Res Ptn upgraded Apple to a "strong-buy" rating in a research report on Wednesday, October 1st. Needham & Company LLC reiterated a "hold" rating on shares of Apple in a research report on Friday, July 25th. Barclays lifted their price target on Apple from $173.00 to $180.00 and gave the company an "underweight" rating in a research report on Friday, August 1st. Tigress Financial lifted their price target on Apple from $300.00 to $305.00 and gave the company a "strong-buy" rating in a research report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price target on Apple from $255.00 to $280.00 and gave the company an "overweight" rating in a research report on Friday, September 19th. Four analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Apple has a consensus rating of "Moderate Buy" and an average price target of $248.29.

Apple Stock Up 0.0%

Shares of NASDAQ AAPL opened at $247.77 on Wednesday. Apple has a 52 week low of $169.21 and a 52 week high of $260.10. The business has a 50-day simple moving average of $239.39 and a two-hundred day simple moving average of $216.26. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.25. The company has a market cap of $3.68 trillion, a P/E ratio of 37.60, a P/E/G ratio of 2.41 and a beta of 1.09.

Apple Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 11th. Apple's payout ratio is 15.78%.

Insiders Place Their Bets

In other Apple news, SVP Katherine L. Adams sold 47,125 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $256.79, for a total value of $12,101,228.75. Following the transaction, the senior vice president directly owned 179,158 shares of the company's stock, valued at $46,005,982.82. The trade was a 20.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Deirdre O'brien sold 43,013 shares of Apple stock in a transaction that occurred on Thursday, October 2nd. The stock was sold at an average price of $257.39, for a total value of $11,071,116.07. Following the completion of the transaction, the senior vice president directly owned 136,687 shares in the company, valued at $35,181,866.93. This trade represents a 23.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,922 shares of company stock valued at $64,320,190 in the last ninety days. Company insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Apple

Several hedge funds have recently made changes to their positions in the business. Matthew Goff Investment Advisor LLC increased its stake in shares of Apple by 4.1% during the third quarter. Matthew Goff Investment Advisor LLC now owns 7,298 shares of the iPhone maker's stock valued at $1,858,000 after buying an additional 288 shares during the period. Bannerman Wealth Management Group LLC increased its stake in shares of Apple by 19.4% during the third quarter. Bannerman Wealth Management Group LLC now owns 2,169 shares of the iPhone maker's stock valued at $552,000 after buying an additional 353 shares during the period. Enclave Advisors LLC increased its stake in shares of Apple by 0.7% during the third quarter. Enclave Advisors LLC now owns 32,151 shares of the iPhone maker's stock valued at $8,187,000 after buying an additional 214 shares during the period. Scratch Capital LLC increased its stake in shares of Apple by 395.9% during the third quarter. Scratch Capital LLC now owns 5,921 shares of the iPhone maker's stock valued at $1,508,000 after buying an additional 4,727 shares during the period. Finally, Summit Financial Consulting LLC increased its stake in shares of Apple by 2.7% during the third quarter. Summit Financial Consulting LLC now owns 3,453 shares of the iPhone maker's stock valued at $879,000 after buying an additional 90 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Apple Company Profile

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.

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