Skip to content

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

Apple share price: Q3 earnings preview

Apple Q3 results are expected to show a marked decline from the previous quarter.

Apple Source: Bloomberg

When are the Apple results?

Apple Inc. the world’s largest company by market capitalisation in the UK, is set to report quarter three (Q3) 2021 earnings on 27 July 2021.

What ‘the Street’ expects from Apple Q3 2021 results?

Due to the Covid-19 pandemics' disruption on global business and in turn supply chains, Apple Inc. currently does not issue forward guidance for its quarterly results. However, Q3 2021 results do follow on from what was a very strong second quarter for the group, where record revenue was reported in each of the company’s geographic segments.

Q3 is however expected to see chip shortages due to supply chain disruption affecting Ipad and Mac sales. This could provide a $3 billion to $4 billion headwind in revenue for new product lines within this segment, which have seemingly drawn increased demand in 2021. iPad and Mac sales account for just over 15% in group revenue.

iPhone sales account for around 60% of total revenue and early indications are that sales within the groups largest market, North America, have been robust. Consumer intelligence research partners have suggested that Apple’s third quarter iPhone sales in the US could have captured around 63% of the market over this period.

Year on year (YoY) revenue growth for the company could be in excess of 20%, although the expectation is for a notable decline quarter on quarter (q/q).

A consensus of estimates for the upcoming Q3 2021 Apple results arrive at the following:

How to trade Apple results

In terms of an institutional view as of 20 July 2021, a Refinitiv poll of 41 analysts have an average rating of ‘buy’ for Apple, with a long-term price target (mean) of $159.73.

Apple broker rating Source: Refinitiv
Apple broker rating Source: Refinitiv

In terms of a retail trading view, as of 20 July 2021, IG client sentiment data shows 88% of IG clients with open positions expect the price to rise in the short term, while 12% expect the price to fall in the near term.

Discover how to buy, sell and short Apple shares

Apple client sentiment Source: IG
Apple client sentiment Source: IG

Apple share price – technical view

The share price of Apple has recently broken out of a bullish triangle consolidation pattern. The triangle and breakout is a suggestion that the longer-term uptrend is being continued. In the short term however, the index is correcting from overbought territory.

The short-term correction within the longer-term uptrend suggests a second opportunity for long entry for breakout traders. The correction is however still underway with a confluence of both triangle and trend line support at around the $132.50 level. Traders of the pattern might prefer to see a bullish price reversal closer to the confluence of support ($132.50) before considering new long entries into Apple. In this scenario, $160.50 becomes a longer-term projected target, while a close below the support low instead at $122.75, would consider the bullish assumptions to have failed.

Apple chart Source: IG charts
Apple chart Source: IG charts

Summary

  • Q3 2021 results are scheduled for the 27 July
  • Supply chain disruptions are expected to impact iPad and Mac sales over the period
  • Revenue for the quarter is estimated at $72.780 billion
  • EPS for the quarter are estimated at $0.99
  • The average broker rating for Apple Inc. remains ‘buy’
  • The average long-term broker price target for Apple is $159.73
  • The majority of IG clients with open positions on Apple expect the price to rise in the near term
  • The long-term trend for Apple remains up, although the share price is currently correcting from overbought territory

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Act on share opportunities today

Go long or short on thousands of international stocks with spread bets and CFDs.

  • Get full exposure for a comparatively small deposit
  • Trade on spreads from just 0.1%
  • Get greater order book visibility with direct market access

See opportunity on a stock?

Try a risk-free trade in your demo account, and see whether you’re on to something.

  • Log in to your demo
  • Take your position
  • See whether your hunch pays off

See opportunity on a stock?

Don’t miss your chance – upgrade to a live account to take advantage.

  • Trade a huge range of popular stocks
  • Analyse and deal seamlessly on fast, intuitive charts
  • See and react to breaking news in-platform

See opportunity on a stock?

Don’t miss your chance. Log in to take advantage while conditions prevail.

Live prices on most popular markets

  • Equities
  • Indices
  • Forex
  • Commodities


Prices above are subject to our website terms and agreements. Prices are indicative only. All share prices are delayed by at least 15 minutes.

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Sunday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.


For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of spread betting and CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.