With everyone up in arms about technology earnings after IBM's (IBM) report yesterday, investors will now turn to Apple (AAPL) after the close. A positive report will likely quickly erase the bad memories of weak numbers from IBM. Such is the market these days.
One thing is for sure -- Apple needn't miss estimates. As shown below (from our Earnings Report Database), Apple hasn't missed earnings estimates since at least October 2001, as it has beaten estimates for the last 29 quarters. The company's revenue beat rate hasn't historically been quite as strong as its earnings beat rate, but it is still impressive at 77% (27 out of 35). The last time Apple missed revenue estimates was in October 2008. If Apple lowers guidance, it won't be a shocker, given that they usually try to underpromise and overdeliver. Over the last 20 quarters, Apple has lowered guidance 14 times.