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Barclays' Ben Reitzes expects Apple (AAPL) to post FQ3 revenue of $36B and EPS of $9.62, below a...

  • Tuesday, July 10, 2012, 5:12 PM ET
    Barclays' Ben Reitzes expects Apple (AAPL) to post FQ3 revenue of $36B and EPS of $9.62, below a consensus of $37.6B and $10.37. But the fervent Apple bull doesn't think it's a big deal: with negative smartphone and supply chain data piling up, Reitzes thinks investors are already counting on FQ3 iPhone sales to fall to ~27M. BMO's Keith Bachman, meanwhile, thinks Apple (typically conservative with guidance) could guide for FQ4 sales of $33B, well below a $38.5B consensus.
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This news story has 16 comments:

  •  
    IMHO, there's going to be a lot of crow served on July 24, including to Mr. Reitzes. I think earnings is going to be north of $40 billion, and EPS should at least match last quarter's $11.6 billion. I realize that this is bucking Apple's guidance, but I think this is one of those rare occurrences where Apple has underestimated future sales pretty badly. I do agree that the FQ4 consensus is overblown - unless Apple comes out with its new 8" tablet a month or so from now. If that's the case, all bets are off.
    10 Jul 2012, 05:31 PM Reply Like
  •  
    I hope you're right but with the global economic slowdown its kinda' hard for me to see Apple escaping this. Especially given its size now. I will b every surprised to see Apple beat estimates. Hope I'm proven wrong.
    10 Jul 2012, 05:56 PM Reply Like
  •  
    Agreed. Also new iPad was no game changer and crowd awaiting new iPhone AND assuming an Apple TV to be a hit, if it ever happens.
    Great company, great price but IMO the stars are aligned for a disappointing Q.
    10 Jul 2012, 06:23 PM Reply Like
  •  
    I've remained long AAPL; despite the economy and the so-called supply chain monitors; I bought into that saw from Dan Niles 2 Christmases ago; it took me these two years to build back up to my present position; I'm looking this one in the eye with a full position, and anything I might accumulate from a re-allocation; but, I don't think so...I've got my positions filled...Besides AAPL is behaving like gold again. (doesn't move on even bad political days.)
    10 Jul 2012, 07:25 PM Reply Like
  •  
    If AAPL misses for the next two quarters it wont be a huge deal-but it will definately knock AAPL back to $450 -where it should be on a longer term chart before t had that huge run up.
    10 Jul 2012, 05:52 PM Reply Like
  •  
    Are you mentally challenged? $450?!?! So what it trades at an 11 trailing PE including cash. I don't care what you THINK the chart says, take a look at some fundamentals.
    10 Jul 2012, 06:17 PM Reply Like
  •  
    Would take a world depression for that to happen but...a test of 520 is not out of the question on a lackluster report or two.
    10 Jul 2012, 06:25 PM Reply Like
  •  
    IMHO - Barring global catastrophe, I think Apple will never see the 500s again.
    10 Jul 2012, 07:51 PM Reply Like
  •  
    Yep- and that is why AAPL will probably have slow drop_analysts 45 buy 5 hold 0 sell. Boat loaded to buy side. This morning 2 more brokerage buy recs. Apple beat by $2 last quarter-bounced then fell-because poor earning quality. How will it react if misses earns by $1 as suggested????
    11 Jul 2012, 09:04 AM Reply Like
  •  
    seekingalpha.com/artic...
    10 Jul 2012, 06:22 PM Reply Like
  •  
    Apple is like McDonalds or GM after the founder died : a whole System that works and improves for some years to come.
    Technologies,Supply Chain,Marketing,Brand,... and Market dominance : all you need for success and...China for growth.
    Apple will deliver for many years to come.
    10 Jul 2012, 08:35 PM Reply Like
  •  
    I hope the new I pad is a great hit ! I would like to but some of the Stock. I heard that the stock will rise to 10001 in the future.
    Lorip
    10 Jul 2012, 10:41 PM Reply Like
  •  
    Every quarter it's the same nonsense and then AAPL's quarterlies blow the top off the charts and all of the experts act like it was a foregone conclusion. Remember last quarter investors had to be talked off of buildings when both Verizon and AT&T iPhone sales numbers dropped Q over Q?
    10 Jul 2012, 11:12 PM Reply Like
  •  
    Injecting some numbers into this, last quarter international iphone sales came in at 26.1 million or so =35.1- about 9 mil from us. Recent data suggests ios continues to gain market share in China. Up to 17.3 percent as of june this year. Apple has expericiened 10 percent or greater sequential growth of international iphone sales for every quarter in the device's history.

    Anecdotally, with regard to the European slow down, Apple products remain hot sellers in GREECE cradle of Western Civilization and this current crisis.

    The analysts number of 27 mil would entail a complete stall out of international iphone growth, AND basically NO US sales. Given China, Given the fact that Apple opened new stores in France this quarter etc, I find this hard to swallow.

    Could it be possible, yes. Anything is possible. It just doesn't seem likely.
    10 Jul 2012, 11:33 PM Reply Like
  •  
    Market dominance and growth trends;a pile of cash permits apple to buy patents,companies,anyt... name it.
    No real danger in sight
    11 Jul 2012, 09:46 AM Reply Like
  •  
    I would hate to bet against them
    11 Jul 2012, 10:27 AM Reply Like
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