Thursday, January 19, 2012

Previewing Apple's Earnings Jan 24th, Estimates Are $9.98 EPS

Shares of Apple Inc. (NASDAQ: AAPL) have been on fire in recent weeks' trading along with the entire market. Market sentiment is starting to become bullish as unemployment numbers in the U.S. are improving and other economic indicators are showing strength. That being said, the Euro Zone crisis is still very much alive but with the recovery of the U.S., those troubles are becoming less and less worrisome for U.S. equity investors.

One of the most anticipated companies to report earnings is Apple Inc. They report next week on January 24th and one who has anything to do with the stock market will be watching the results. Apple Inc. (NASDAQ: AAPL) is expected to earn $9.98 per share for quarter ended Dec 2011. Estimates from Wall Street analysts ranged from as low as $8.88 per share to as high as $11.26 per share. For the same quarter last year, the company earned $6.43 per share. Revenues are expected to come in at $38.65B. Shares of Apple Inc. traded higher by 1.04% or $4.41/share to $429.11. In the past year, the shares have traded as low as $310.50 and as high as $429.47. On average, 13,314,900 shares of AAPL exchange hands on a given day and today's volume is recorded at 9,885,394. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $401.86 area where the stock will likely see buying pressure.

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