Did Apple (AAPL) Accidentally Leak Soft Q2 Numbers? Probably Not...
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Price: $291.08 -1.54%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +19.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +19.7%
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Business Insider is highlighting an interesting call from asymco's Horace Dediu ahead of Apple's (Nasdaq: AAPL) second-quarter earnings report Wednesday after the close.
Within the filing of Apple's lawsuit against Samsung Monday, Dediu suggests the company may have accidentally disclosed some material data related to shipments during the last quarter -- data which would suggest Apple may have missed estimates sharply.
From the filing: "As of March 2011, more than 108 million iPhones had been sold worldwide" and "By March 2011, Apple sold over 19 million iPads."
Assuming Apple has already sold nearly 90 million iPhones worldwide, Dediu believes the company sold 18.5 million units over the last quarter, about inline with analyst estimates. For iPad's, Dediu assumes Apple previously sold nearly 15 million units, implying just 4.2 million iPad's shipped during the latest quarter, well under the 6-8 million unit range analysts had been expecting.
While the iPad figure certainly seems concerning, StreetInsider remains skeptical on the wording in the filing: "By March 2011" could suggest "through March," or, more likely, "by the beginning of March." If the data was in fact from the beginning of March, the reading would be missing an entire month of iPad sales.
Such a wide miss from one of the most conservative companies on the Street would likely warrant some kind of stock sell off, however traders continue to buy Apple shares ahead of Wednesday's quarterly report. Apple shares last traded at $334.80, up 0.9 percent from Tuesday's close.
Link to Business Insider story.
Within the filing of Apple's lawsuit against Samsung Monday, Dediu suggests the company may have accidentally disclosed some material data related to shipments during the last quarter -- data which would suggest Apple may have missed estimates sharply.
From the filing: "As of March 2011, more than 108 million iPhones had been sold worldwide" and "By March 2011, Apple sold over 19 million iPads."
Assuming Apple has already sold nearly 90 million iPhones worldwide, Dediu believes the company sold 18.5 million units over the last quarter, about inline with analyst estimates. For iPad's, Dediu assumes Apple previously sold nearly 15 million units, implying just 4.2 million iPad's shipped during the latest quarter, well under the 6-8 million unit range analysts had been expecting.
While the iPad figure certainly seems concerning, StreetInsider remains skeptical on the wording in the filing: "By March 2011" could suggest "through March," or, more likely, "by the beginning of March." If the data was in fact from the beginning of March, the reading would be missing an entire month of iPad sales.
Such a wide miss from one of the most conservative companies on the Street would likely warrant some kind of stock sell off, however traders continue to buy Apple shares ahead of Wednesday's quarterly report. Apple shares last traded at $334.80, up 0.9 percent from Tuesday's close.
Link to Business Insider story.
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