A $2 Billion Beat for Apple?
Apple will post results for its first fiscal quarter after the closing bell today, and like most of its financial reports in recent memory, they’re expected to be quite strong. Wall Street analysts, on average, expect Apple to post earnings of $5.38 per share, up from $3.67 per share in the same period last year. Revenue is expected to be up 55 percent at $24.3 billion.
Unaffiliated analysts, who often do a better job of predicting Apple’s performance than their professional counterparts, are taking an even more bullish view. Bullish Cross’s Andy Zaky–who called Apple’s Q4 EPS almost to the penny–for example, is looking for the company to post a $2 billion top-line beat. He sees Apple reporting $6.29 in earnings per share on approximately $26.3 billion in revenue. That’s quite a bit more than the $4.80 EPS on $23 billion that Apple’s guided for. Is it possible? We’ll find out this afternoon.