Earnings season is always an exciting time for investors, and Apple Inc. (AAPL) is no exception. The tech giant is set to announce its earnings on August 3, 2023, after the market closes, and investors are eager to see how the company has performed in the fiscal quarter ending June 2023.
According to Zacks Investment Research, the consensus EPS forecast for the quarter is $1.19. It's worth noting that this is just an estimate based on 11 analysts' forecasts, and actual earnings may differ. In the same quarter last year, Apple reported an EPS of $1.2, providing a basis for comparison.
One aspect that stands out for Apple is its "high" Earnings Quality Ranking (EQR). For the 24th consecutive week, the company has maintained this high ranking. Earnings quality is a critical factor to consider, as it reflects the extent to which current earnings can be predictive of future earnings. High-quality earnings are expected to be more sustainable and reliable, while low-quality earnings may not be indicative of future performance.
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