Apple Earnings: Wall Street & Main Street Are Increasingly Bullish

Apple Inc. AAPL is scheduled to report its fiscal second quarter financial results on Monday, after the market closes.

According to Estimize, the crowd is slightly more bullish than the Street as earnings loom. The former expects EPS of $2.27 on revenue of $57.302 billion, while Wall Street research firms project consensus EPS of $2.18 on revenue of $56.336 billion. Both these estimates stand substantially above the company’s guidance of $53.5 billion in revenue.

Moreover, both the Street and the crowd are expecting EPS well above those reported in the same quarter last year, which came in at $1.66.

Related Link:2 Apple Charts This Expert Is Tracking

The graph below shows Apple’s history of estimates versus actual earnings:

Interestingly, Estimize also offers the possibility of checking out how estimates have changed over the quarter.

Both Main and Wall Street have been consistently increasing their estimates since January. Bullishness is at its highest level in the quarter as earnings loom.

What Analysts Are Saying

In a recently published report, analysts at Cowen & Company reiterated their Ourperform rating on Apple, accompanied by a $135 price target. A Benzinga article reads: “The analysts believe that there could be upside to the stock, despite FX headwinds and high expectations. Despite the FX headwinds, Cowen & Company has maintained its revenue, gross margin and EPS guidance for FQ2:15 at $58.4 billion, 39.5 percent and $2.29, respectively, higher than the consensus projections.”

Over April, several other research firms have weighed in on Apple. FBR Capital recently initiated coverage with an Outperform, and Maxim Group did the same, with a Hold rating. For its part, Raymond James downgraded the stock to Market Perform, while SocGen demoted it to Hold.