Is Wall Street Underestimating Apple’s Earnings?
A comparative examination of consensus expectations from Wall Street and consensus expectations from dozens of buy-side and independent contributing analysts suggests that Apple’s (NASDAQ:AAPL) upcoming earnings numbers may exceed Wall Street’s estimates, reports Seeking Alpha. Apple is expected to report its September quarter earnings after the market closes on October 28.
Wall Street’s current consensus expectation for Apple’s quarterly earnings is $36.809 billion in revenue and $7.88 earnings per share. This is in line with the revised earnings guidance provided in an 8-K form that Apple filed with the Securities and Exchange Commission soon after the company announced that it had sold a record-breaking nine million units of the new iPhone 5S and iPhone 5C models.
“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.