Analyst: Here’s What to Expect from Apple Tonight
Cantor Fitzgerald analyst Brian White offered his final thoughts on Apple’s (NASDAQ:AAPL) fiscal fourth quarter earnings before the company announces its results this evening after the market closes. Based on his increased iPhone and iPad sales estimates and “a more favorable pricing strategy around the iPhone 5C,” White raised his revenue and EPS expectations for Apple’s September quarter.
White’s fiscal fourth quarter revenue estimate increased from $34.57 billion to $37.49 billion, while his EPS estimate jumped from $7.23 to $8.06. However, White believes Apple’s profit cycle hit a low point in the June quarter and his current September quarter sales forecast is only a 6 percent increase over the last quarter.
This is far below the average 21 percent growth rate that Apple has seen in the past six fiscal fourth quarters. White also noted that his fiscal year 2013 forecast for EPS has declined for the first time since fiscal year 2003 and he characterized Apple’s fiscal year 2013 as “a year to forget.” White raised his September quarter iPhone unit shipment prediction from 31.8 million to 32.96 million and bumped up his iPad unit forecast from 13 million to 14 million. On the other hand, he lowered his Mac unit forecast from 4.0 million to 3.8 million.