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
Apple released iOS 18.2 in the second week of December, bringing the second round of Apple Intelligence features to iPhone 15 Pro and iPhone 16 models. This update brings several major advancements to Apple's AI integration, including completely new image generation tools and a range of Visual Intelligence-based enhancements. Apple has added a handful of new non-AI related feature controls as...
Wednesday December 18, 2024 11:39 am PST by
Juli CloverApple is no longer planning to launch a hardware subscription service that would let customers "subscribe" to get a new iPhone each year, reports Bloomberg's Mark Gurman.
Gurman first shared rumors about Apple's work on a hardware subscription service back in 2022, and at the time, he said that Apple wanted to develop a simple system that would allow customers to pay a monthly fee to gain...
Contrary to recent reports, the iPhone 17 Pro will not feature a horizontal camera layout, according to the leaker known as "Instant Digital."
In a new post on Weibo, the leaker said that a source has confirmed that while the appearance of the back of the iPhone 17 Pro has indeed changed, the layout of the three cameras is "still triangular," rather than the "horizontal bar spread on the...
Wednesday December 18, 2024 10:05 am PST by
Juli CloverElevation Lab today announced the launch of TimeCapsule, an innovative and simple solution for increasing the battery life of Apple's AirTag.
Priced at $20, TimeCapsule is an AirTag enclosure that houses two AA batteries that offer 14x more battery capacity than the CR2032 battery that the AirTag runs on. It works by attaching the AirTag's upper housing to the built-in custom contact in the...
The current Apple TV 4K was released more than two years ago, so the streaming device is becoming due for a hardware upgrade soon. Fortunately, it was recently rumored that a new Apple TV will launch at some point next year.
Below, we recap rumors about the next-generation Apple TV.
Bloomberg's Mark Gurman last week reported that Apple has been working on its own combined Wi-Fi and...
Blackmagic today announced that its URSA Cine Immersive camera is now available for pre-order, with deliveries set to start late in the first quarter of 2025. Blackmagic says that this is the world's first commercial camera system designed to capture 3D content for the Vision Pro.
The URSA Cine Immersive camera was first introduced in June, but it has not been available for purchase until...
Apple launched the controversial "trashcan" Mac Pro eleven years ago today, introducing one of its most criticized designs that persisted through a period of widespread discontentment with the Mac lineup.
The redesign took the Mac Pro in an entirely new direction, spearheaded by a polished aluminum cylindrical design that became unofficially dubbed the "trashcan" in the Mac community. All of ...
Apple is planning a series of "major design" and "format changes" for iPhones over the next few years, according to The Wall Street Journal's Aaron Tilley and Yang Jie.
The paywalled report published today corroborated the widely-rumored "iPhone 17 Air" with an "ultrathin" design that is thinner than current iPhone models. The report did not mention a specific measurement, but previous...
