Analysts tracked by FactSet on average model $1.43 a share in fiscal second-quarter earnings for Apple, up from $1.40 a share a year earlier. $AAPL is expected to reveal this year’s investor-return plans on Thursday afternoon.
Apple’s AAPL, -2.78% Thursday afternoon earnings report not only will reveal how the consumer-electronics giant is managing supply-chain and macroeconomic pressures, but it should also contain the company’s annual update on its capital-return plans.
CFRA’s Angelo Zino sees the potential for a more buyback-heavy update, predicting a $100 billion increase to Apple’s share-repurchase authorization and a roughly 7% bump to its dividend.Apple has been especially focused on capital returns in recent years as it works toward its goal of becoming net-cash neutral over time.
What else to watch for Apple’s coming report will, of course, be about more than just the cash. Investors will be looking for updates about how the company is faring in the current macroeconomic climate, and how it has dealt with pressure on its supply chain. “In the event Apple remains less impacted than other brands, Apple could outperform our forecast, but we expect management’s initial guidance to set a lower baseline,” she wrote. “With this setup, we don’t believe investors need to be aggressive ahead of the quarter; however we’d continue to buy shares on any weakness.”Additionally, Monness, Crespi, Hardt & Co.’s Brian White will be looking to gauge the impact of inflation on Apple purchases.
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