Wall Street Continues to Take Down Apple (AAPL) Expectations Ahead of Results
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Rating Summary:
52 Buy, 12 Hold, 1 Sell
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Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 26 | New: 12
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Analysts continue to get less sanguine on Apple (NASDAQ: AAPL) ahead of June quarter results on Tuesday, July 24, after the close.
Sterne Agee's Shaw Wu sees light revenues, but an EPS 'beat'. He also expects revenue guidance to be conservative.
"Based on our supplier checks, we anticipate light revenue, an EPS beat, and conservative guidance. Talking to investors, there appears to be understanding that the next two quarters will be "choppy" ahead of the 6th gen. iPhone, the big picture being that this will likely be the most powerful mobile phone upgrade cycle ever."
For the June quarter, the firm is now at $36.1 billion in revenue and $10.45 in EPS (from $36.1 billion and $10.16 in EPS) vs. consensus at $37.2 billion and $10.35 in EPS. This compares to guidance of $34 billion and $8.68 in EPS.
For FY12, the firm estimates $158.9 billion and $47.10 in EPS (from $158.9 billion and $46.75 in EPS) vs. consensus at $161.1 billion and $46.79 in EPS and for FY13, $188.9 billion and $53.85 in EPS (from $188.9 billion and $53.50 in EPS) vs. consensus at $196.2 billion and $54.39 in EPS.
Wu is maintaining his Buy rating and $780 price target.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $604.30 yesterday, with a 52 week range of $353.02-$644.00.
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Sterne Agee's Shaw Wu sees light revenues, but an EPS 'beat'. He also expects revenue guidance to be conservative.
"Based on our supplier checks, we anticipate light revenue, an EPS beat, and conservative guidance. Talking to investors, there appears to be understanding that the next two quarters will be "choppy" ahead of the 6th gen. iPhone, the big picture being that this will likely be the most powerful mobile phone upgrade cycle ever."
For the June quarter, the firm is now at $36.1 billion in revenue and $10.45 in EPS (from $36.1 billion and $10.16 in EPS) vs. consensus at $37.2 billion and $10.35 in EPS. This compares to guidance of $34 billion and $8.68 in EPS.
For FY12, the firm estimates $158.9 billion and $47.10 in EPS (from $158.9 billion and $46.75 in EPS) vs. consensus at $161.1 billion and $46.79 in EPS and for FY13, $188.9 billion and $53.85 in EPS (from $188.9 billion and $53.50 in EPS) vs. consensus at $196.2 billion and $54.39 in EPS.
Wu is maintaining his Buy rating and $780 price target.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $604.30 yesterday, with a 52 week range of $353.02-$644.00.
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