Analysts Increasing Estimates Ahead of Apple Earnings Release
With Apple set to report earnings for the third fiscal quarter and second calendar quarter of 2011 next Tuesday, July 19th, Wall Street analysts are beginning to line up their final predictions for Apple's performance. As noted by Barron's, a pair of analysts this morning issued new reports that show last-minute bumps in their estimates for the quarter.
Citigroup's Richard Gardner is now pegging quarterly iPhone shipments at 18 million units, an increase of 2 million units over his previous estimate and now above the Wall Street consensus in the range of 16.5-17 million units. Results at that level would come in just below the record 18.6 million iPhones shipped in the previous quarter and would be a very strong performance given the fact that many consumers are likely holding out for the next-generation iPhone.
Gardner places his iPad estimate at 8 million units, slightly above Wall Street consensus and well ahead of Apple's 4.69 million units shipped in the previous quarter as the company struggled to meet demand as it shifted production from the original iPad to the iPad 2. Overall, Gardner sees Apple's earnings per share now coming in at a healthy $6.34 for the quarter, nearly matching last quarter's strong performance.
In a separate report, UBS analyst Maynard Um similarly tweaked his estimates, pushing his iPad shipment figure up by 200,000 to 7.9 million while holding steady at a prediction of 18.35 million iPhone units. Um is looking for earnings per share of $5.88 and suggests that evidence of Apple's patent settlement with Nokia may appear in the financial results.
As always, analyst estimates are to be taken with a grain of salt, and professional analysts are known to consistently underestimate Apple's performance, suggesting that the company may indeed once again post very strong numbers. And with even the professional analysts increasing their estimates down the homestretch toward the earnings release, Apple appears to once again be in solid position.
Popular Stories
YouTube channel Front Page Tech is back today with another video that provides a closer look at iOS 19's alleged design changes.
The video contains re-created renders of iOS 19, which are allegedly based on real footage of the software update, provided by sources within Apple. Overall, iOS 19 is expected to have a more glass-like, visionOS-inspired design, with added translucency for user...
Apple's upcoming iPhone 17 Pro models will feature a redesigned rear camera panel that spans the width of the device, but it will be the same color as the iPhone itself, rather than being part of a two-tone design.
That's according to Bloomberg's Mark Gurman. Writing in his latest Power On newsletter, the reporter says the iPhone 17 Pro won't have a two-toned back, as some renders have...
If you have an older Apple device that you've been considering upgrading, you're probably wondering how the newly announced tariffs might impact prices going forward, and whether it's worth buying now before there's a price hike.
Given analyst and economist responses to the tariffs, market panic, and Trump's stance on the current financial chaos, the answer is that making a purchase...
Apple is preparing a "major shake-up" for the iPhone's 20th anniversary in 2027, according to Bloomberg's Mark Gurman.
iPhone X released in 2017 for 10th anniversary
Writing in his latest Power On newsletter, Gurman says that Apple plans to launch a foldable iPhone alongside a "bold" new iPhone Pro model that makes more extensive use of glass.
Could this mean Apple plans to realize former...
U.S. President Donald Trump "absolutely" believes that Apple could manufacture its iPhones and other devices in the United States, Press Secretary Karoline Leavitt said today during a media briefing.
Leavitt was asked whether Trump thought that iPhone manufacturing is the kind of technology that could move to the U.S. "Absolutely, he believes we have the labor, we have the workforce, we have ...
iOS 19 will not be available on the iPhone XR, iPhone XS, or the iPhone XS Max, according a private account on social media site X that has accurately provided information on device compatibility in the past.
The iPhone XR, iPhone XS, and iPhone XS Max all have an A12 Bionic chip, so it looks like iOS 19 will discontinue support for that chip. All other iPhones that run iOS 18 are expected...
Later this year, Apple will introduce the iPhone 17 series, which includes the iPhone 17 Pro and the iPhone 17 Pro Max, two new high-end flagship devices that will be sold alongside the regular iPhone 17 and an all-new ultra-thin iPhone 17 Air.
If you have been holding out for the iPhone 17 Pro or its bigger sibling, here are five of the biggest changes, informed by the latest reports and...
