Forget the formal estimates: what Wall Street was really hoping for from Apple’s latest quarter was an acceleration in growth that would blow away the “official” forecasts.
The figures released on Monday failed to impress. At 51m, the number of iPhones sold in the quarter came in 2m short of estimates, though the 26m iPads topped most estimates. Within minutes, Apple’s shares had slipped more than 5 per cent.
Read below for our coverage of the earnings report and the company’s analyst call.
Expectations are high that Apple can go back to its old forecast-busting ways when it reports earnings for its December quarter on Monday.
“Investors think that Q1 is going to be a blow-out and the Q2 guide is quite strong,” said analysts at Berenberg in a note after meetings with shareholders last week.
While the iPhone and iPad both look set to turn in double-digit percentage growth rates, falling prices and margins could minimise revenue and earnings growth.
Here’s what to expect after the markets close in New York: Read more