Analysts Increasing Estimates Ahead of Apple Earnings Release

apple logoWith Apple set to report earnings for the third fiscal quarter and second calendar quarter of 2011 next Tuesday, July 19th, Wall Street analysts are beginning to line up their final predictions for Apple's performance. As noted by Barron's, a pair of analysts this morning issued new reports that show last-minute bumps in their estimates for the quarter.

Citigroup's Richard Gardner is now pegging quarterly iPhone shipments at 18 million units, an increase of 2 million units over his previous estimate and now above the Wall Street consensus in the range of 16.5-17 million units. Results at that level would come in just below the record 18.6 million iPhones shipped in the previous quarter and would be a very strong performance given the fact that many consumers are likely holding out for the next-generation iPhone.

Gardner places his iPad estimate at 8 million units, slightly above Wall Street consensus and well ahead of Apple's 4.69 million units shipped in the previous quarter as the company struggled to meet demand as it shifted production from the original iPad to the iPad 2. Overall, Gardner sees Apple's earnings per share now coming in at a healthy $6.34 for the quarter, nearly matching last quarter's strong performance.

In a separate report, UBS analyst Maynard Um similarly tweaked his estimates, pushing his iPad shipment figure up by 200,000 to 7.9 million while holding steady at a prediction of 18.35 million iPhone units. Um is looking for earnings per share of $5.88 and suggests that evidence of Apple's patent settlement with Nokia may appear in the financial results.

As always, analyst estimates are to be taken with a grain of salt, and professional analysts are known to consistently underestimate Apple's performance, suggesting that the company may indeed once again post very strong numbers. And with even the professional analysts increasing their estimates down the homestretch toward the earnings release, Apple appears to once again be in solid position.

Top Rated Comments

Popeye206 Avatar
162 months ago
Sad to see Apple getting pummled by the competitors.... especially in the Tablet space... sad! :p

What's even sadder is a sold all my Apple stock at $150 and bought worthless solar stock that has done nothing by loose value. BFM! (B=Big, M=Mistake and F... well, you fill in the blank).
Score: 3 Votes (Like | Disagree)
Vandad NP Avatar
162 months ago
Shares

I would have really liked to have bought APPL shares during the year 2000.
Score: 3 Votes (Like | Disagree)
Vantage Point Avatar
162 months ago
The analysts seem to increase there estimates every time and Apple still beat the estimates. Maybe they should take a punt on a really high figure.
The way the market works is the price of the stock goes up if it beats the estimates and down if the numbers are lower - not always true but that is the game in general because current prices reflect the so-called analysts estimates. It is a game they have played for a very long time. Just like 'buy the rumor and sell the news'
Score: 2 Votes (Like | Disagree)
talkingfuture Avatar
162 months ago
The analysts seem to increase there estimates every time and Apple still beat the estimates. Maybe they should take a punt on a really high figure.
Score: 2 Votes (Like | Disagree)
Masterotas Avatar
162 months ago
You say Fanboy, I say smart consumer. Regardless of if the product has a practical function or is economical, Apple products will sell because of the experience of owning it. To those with the means to own the products, the experience is invaluable. Why settle for anything less than the best? There are certain things that people won't skimp out on, even during tough economic times - and experiences such as these are reason enough to continue to buy the product. Apple only has a market share of about 4-5%? Imagine what would happen if that number doubled, tripled, quadrupled. I see Apple being the first trillion dollar company within 4 years, and I'm betting 60% of my portfolio on that belief. Then again, thats are just my 2 cents.
Score: 1 Votes (Like | Disagree)
jonnysods Avatar
162 months ago
What a job. Making guesses and getting paid for it.
Score: 1 Votes (Like | Disagree)

Popular Stories

iOS 17

iOS 17.2 Will Add These 12 New Features to Your iPhone

Friday December 1, 2023 12:19 pm PST by
iOS 17.2 has been in beta testing for over a month, and it should be released to all users in a few more weeks. The software update includes many new features and changes for iPhones, including the dozen that we have highlighted below. iOS 17.2 is expected to be released to the public in mid-December. To learn about even more features coming in the update, check out our full list. Journal ...
iOS 16 4 Web Push

Apple Confirms Governments Using Push Notifications to Surveil Users

Wednesday December 6, 2023 5:06 am PST by
Unidentified governments are surveilling smartphone users by tracking push notifications that move through Google's and Apple's servers, a US senator warned on Wednesday (via Reuters). In a letter to the Department of Justice, Senator Ron Wyden said foreign officials were demanding the data from the tech giants to track smartphones. The traffic flowing from apps that send push notifications...
airpods pro 2 pink

Apple Releases New AirPods Pro 2 Firmware

Tuesday December 5, 2023 11:28 am PST by
Apple today released new firmware update for both the Lightning and USB-C versions of the AirPods Pro 2. The new firmware is version 6B34, up from the 6B32 firmware introduced in November. Apple does not provide details on what features might be included in the refreshed firmware beyond "bug fixes and other improvements," so it is unclear what's new in the update, but prior software releases ...
Beyond iPhone 13 Better Blue

'All-Screen' iPhone Under-Display Camera Enters Development

Wednesday December 6, 2023 2:03 am PST by
Apple's Korean suppliers have begun developing smartphone under-display cameras (UDC), paving the way for the first iPhone with a true "all-screen" appearance. According to The Elec, LG Innotek has entered the preliminary development of the UDC, which sits under the display and does not result in a visible hole in the panel when the camera is not in use. A UDC differs from a typical front ...
magsafe blue 2

iOS 17.2 Brings Qi2 Support to iPhone 13 and iPhone 14 Models

Tuesday December 5, 2023 11:04 am PST by
The iOS 17.2 update that Apple is set to release to the public in the near future will bring support for the next-generation Qi2 wireless charging standard to the iPhone 13 and iPhone 14 models. Qi2 was mentioned in the release notes for the RC version of the update that came out today. With the addition of support for the new standard, iPhone 13 and iPhone 14 models will work with Qi2...
iphone se 4 modified flag edges

iPhone SE 4 May Reuse Existing iPhone 14 Battery

Wednesday December 6, 2023 1:17 pm PST by
Recently, MacRumors has received details on the battery currently being tested on the upcoming fourth-generation iPhone SE, and the information corroborates previous findings in relation to the device. The iPhone SE 4, known by its device identifier D59, is expected to use the exact same battery found in the base model iPhone 14. Partially assembled prototypes of the next iPhone SE have been ...
airpods pro bulbs

Black Friday Prices Return for AirPods Pro 2 With USB-C, iPad, and More

Tuesday December 5, 2023 7:30 am PST by
Today we're tracking a collection of deals that are matching - or nearly matching - the same all-time low discounts we saw during Black Friday. This includes the AirPods Pro 2 with USB-C, 9th generation iPad, and M1 MacBook Air. Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us keep the ...
instagram messenger

Instagram and Facebook Messenger Chats to Disconnect This Month

Tuesday December 5, 2023 1:57 am PST by
Meta has revealed plans to end Instagram users' ability to chat with Facebook accounts later this month, rolling back a feature that it introduced over three years ago. In September 2020, Meta (then Facebook) announced it was merging its Facebook Messenger service with Instagram direct messaging, allowing Instagram users to chat with Facebook users and vice versa using the same platform....