Apple Earnings: Expect Another Barn Burner

A last-minute forecast ahead of Apple’s second quarter earnings report Wednesday, and one that suggests it will be another barn burner.

With consensus estimates for the quarter hovering around $5.38 earnings-per-share on $23.26 billion in revenue, J.P. Morgan analyst Mark Moskowitz broke away from the pack, raising his projections on strong iPhone and Mac sales. Come Wednesday, he’s looking for Apple to post an EPS of $5.39, up from $5.21 he’d previously expected. And for revenue he’s looking at $24.42 billion, up from an earlier prediction of $23.83 billion.

Why the 11th hour increase? Though Moskowitz dropped his quarterly estimate for the iPad 2 to 5.4 million from 6 million citing a “temporary stall-out” in shipments, he raised his iPhone projection to 18.4 million from 16.6 million on continuing sales momentum.

“Our research inputs indicate that iPhone shipments were stronger than expected,” Moskowitz says. “The Verizon launch helped, in addition to broader channel fill related to the GSM model. While investors have been concerned over a quicker plateau effect in the Verizon iPhone demand picture, we think that the quarterly run rate still can be 2 million units or higher. We do not believe sales momentum eased as much as investors have feared exiting the quarter.”

http://profiles.google.com/mlafoy Marc LaFoy

That must be an old photo of Steve. He hasn’t worn nail polish and blouses since his days at NeXT….
http://twitter.com/murphymac MurphyMac

5.38 eps – and a year ago it was only 3.33. WOW.

23 billion in revenue – and a year ago it was only 13!! WOW.

So of course aapl is dropping like a stone !

But seriously, with numbers like these I’m glad to be long, and not trading this roller coaster on a short-term basis. I find the year to year growth to be absolutely phenomenal.
$330AShareMakesMeWeep>8.-.(..

Yes, I agree that Apple dropping like a stone is WOW! worthy. Apple’s share movement is more like a steep downhill ski slope than a roller-coaster.
Anonymous

$5.39 versus a consensus of $5.38 is breaking away from the pack??? What would that make $5.40?

As usual, expect Apple to blow away the “consensus” and Mark Moskowitz.

It’s interesting that the bloggers consistently call Apple better than the “pros”.
http://twitter.com/murphymac MurphyMac

Over the last month or two it’s been hard to understand. But there was a decent run leading up to that point.

By the end of the summer I expect aapl to be on its way to new highs and easily cross $400 on its way to the holiday quarter.
http://twitter.com/Info_Dave Dave Lindhout

The pros have a lot more downside risk than the bloggers, but Apple has exceeded even the bloggers recently. Manipulation, pure, plain, and simple. I’m glad I’m long Apple, but the greedy devil on my shoulder says I’m on to these guys.
http://twitter.com/Poloctopus Poctopus

I am not sure if there has been ever a company size of AAPL growing like 70% YoY. I think market doesn’t know how to price AAPL.

Apple Earnings: Expect Another Barn Burner

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