NEW YORK (TheStreet) -- Shares of Apple (AAPL) - Get Report were higher in mid-afternoon trading on Monday ahead of the iPhone maker's fiscal 2016 fourth quarter and full year earnings report due after Tuesday's closing bell.
Analysts surveyed by FactSet are looking for the Cupertino, CA-based company to post earnings of $1.66 per share on revenue of $46.99 billion for the fourth quarter. Last year Apple posted earnings of $1.96 per share on revenue of $51.50 billion for the same period.
For the full year, Wall Street expects earnings of $8.27 per share on revenue of $215.66 billion. Apple reported earnings of $9.22 per share on $233.72 billion in revenue in the 2015 fiscal year.
Piper Jaffray said that Apple's earnings report will be "largely neutral" for the shares.
The firm anticipates that iPhone 7 sales will be off to a good start in the quarter with some supply restrictions, according to the Fly.
Piper has an "overweight" rating and $151 price target on Apple stock.
JPMorgan expects Apple to forecast 2017 first quarter revenue 4% below Wall Street's consensus of $74.88 billion due to "weak" worldwide smartphone demand, the Fly reports.
The firm has has an "overweight" rating and $107 price target on the shares.
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Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "buy" with a ratings score of B+.
The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: AAPL