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Apple (AAPL -1%) is slipping ahead of today's FQ4 report. Sprint disclosed this morning it sold...
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Thursday, October 25, 2012, 12:18 PM ETApple (AAPL -1%) is slipping ahead of today's FQ4 report. Sprint disclosed this morning it sold 1.5M iPhones in Q3, even with Q2 - Verizon and AT&T had both reported Q/Q increases in iPhone sales. At this point, U.S. iPhone sales and perhaps also total iPad sales are known quantities. The big wild cards are Europe (pressured by macro issues and Android sales) and China (some macro/Android concerns, but also a place where smartphone demand is strong and Apple's sales have been soaring). The Street will also be paying close attention to any color on supply constraints. (yesterday)
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EPS of $7.54 is what Apple is predicting and analyst estimates are around $8.50 a share consensus and those have been coming down. I think all this has been in the stock and what caused it to drop 13% in the last few weeks. So, I think unless its a huge miss, the shares will rally. If it misses and drops below $600, it will be because due to supply constraints sales of the Iphone have been pushed into this qurarter and presents a huge buying opp.