I expect a monster quarter out of Apple. I believe that Steve Job’s unfortunate death has led to a surge in support for Apple products. The beat is largely expected so the key will be do they beat by “enough” relative to Wall-Street consensus. Here are the past 8 quarters earnings beats relative to the Street:
- Q3 11 (last quarter): 33%
- Q2 11: 18%
- Q1 11: 19%
- Q4 10: 13%
- Q3 10: 13%
- Q2 10: 35%
- Q1 10: 77%
- Q4 09: 28%
Probably they need to beat by over 30% for the stock to march higher unabated.
Price targets generally range from $450-$550 for the stock
- Sales consensus is $29.6B
- EPS consensus is $7.31
- EPS estimate range is: $6.50 to highs of $7.80 or so