Here Is Why Analysts Are Concentrating on Apple’s December Quarter
Do analysts even care about Apple’s (NASDAQ:AAPL) September quarter results? As noted by Fortune’s Philip Elmer-DeWitt, some analysts are already focused on Apple’s earnings guidance for the December quarter since the company has been providing fairly accurate earnings guidance in the years since Tim Cook took over from Steve Jobs. As pointed out by Piper Jaffray analyst Gene Munster, Apple even reiterated its earnings guidance soon after it announced that it sold a record-breaking nine million iPhone 5S and iPhone 5C models over the launch weekend.
“Apple expects total company revenue for the fourth fiscal quarter to be near the high end of the previously provided range of $34 billion to $37 billion, and expects gross margin to be near the high end of the previously provided range of 36 percent to 37 percent,” wrote Apple in its 8-K form.
Although Cook’s earnings guidance changes may have taken some of the excitement out of Apple’s quarterly earnings reports, many investors would still probably prefer boringly accurate numbers over a random guessing game. However, since no big surprises are expected in Apple’s fiscal fourth quarter results, analysts have instead turned their attention to Apple’s earnings guidance for its December quarter.