The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.
That is because Apple is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat.
After all, analysts raising estimates right before earnings—with the most up-to-date information possible—is a pretty good indicator of some favorable trends underneath the surface for AAPLin this report.
In fact, the Most Accurate Estimate for the current quarter is currently at $10.26 per share for AAPL, compared to a broader Zacks Consensus Estimate of $10.21 per share.
This suggests that analysts have very recently bumped up their estimates for AAPL, giving the stock a Zacks Earnings ESP of 0.49% heading into earnings season.
Why is this Important?