With Apple’s [NASDAQ: AAPL] Q3 quarterly earnings to be announced today, analysts have begun previews of what to expect from the popular electronics maker. A survey this afternoon by Forbes took into account the predictions of 38 Wall Street professionals and 21 independents as to Apple’s revenue, earnings per share (EPS), and millions of units shipped for each of its flagship devices.
[The individual analyst’s estimates, with the pros in blue, the indies in green and Apple’s high, and low guidance numbers in red]
Most are pegging Apple to have certainly generated some revenue, but as Forbes notes, it might not be pretty. According to the article “Earnings estimates are down across the board — anywhere from -7% year over year (according to independent Patrick Smellie from the Braeburn Group) to -29% (Susquehanna’s Chris Caso).”
Interestingly, Mac Rumors notes that after its last quarterly earnings report, Apple stock prices dropped to its lowest since 2011, dropping to under $400 per share, after peaking last year at well over $600 per share. There could be a number of reasons that Apple isn’t generating the type of revenue expected of it but the common consensus points to a lack of innovation. Apple hasn’t released one single brand-new product since the untimely passing of the late Steve Jobs, who singlehandedly pulled Apple from the brink of futility to a multinational conglomerate with one of the most recognizable brands on the planet after being ousted from the company he founded and brought back as CEO.
Sure there are rumors of an iWatch due to the recent hiring of former Yves St Laurent CEO Paul Deneve, but a formidable smartwatch product has already been released by Sony and Pebble, and is already in the pipeline for perpetual rival Microsoft.
Last year, in the third quarter of 2012, Apple reported a profit of $8.8 billion on $35 billion in revenue. In April, the gap between the pros’ and the amateurs’ revenue estimates was just 1.3%.
How do you think Apple will fare after its earnings? Will Tim Cook hint at any new developments in the works?
