Roundup of Analyst Expectations Ahead of Q2 2013 Earnings Call

Philip Elmer-Dewitt has assembled his quarterly list of analyst predictions ahead of Apple's earnings report this afternoon. The list includes estimates from 67 analysts: 26 "independent" and 41 "institutional" who work for large investment houses or research organizations.

This is one of the most important earnings calls of Apple CEO Tim Cook's tenure as CEO. Apple's stock price is down significantly from its highs of last year, and investors are concerned about Apple's growth prospects across both existing and new product lines.

Q22013
Typically, the amateur analysts expect significantly higher revenue and earnings than the professionals, but Elmer-Dewitt notes the gap is less than usual this time. The independent consensus has Apple just beating its guidance, while the pro's are expecting Apple to hit near the middle of its range.

The pros, as usual, are more cautious than the independents -- but not that much. The gap between the two group's average estimates (summarized above) as as close as I've ever seen them, with the amateurs calling for revenues only 1.3% higher than professionals.

In the first quarter, the company earned $13.1 billion in profit on revenue of $54.5 billion.

Last quarter Apple changed how it provides guidance, choosing to offer a range of guidance for what the company believes it can achieve, rather than a point prediction. Apple provided guidance for the second quarter for revenue of between $41 and $43 billion and gross margin between 37.5% and 38.5%.

Apple will announce its earnings for the second fiscal quarter of 2013 (first calendar quarter of 2012) and host a conference call regarding the release this afternoon at 5:00 PM Eastern / 2:00 PM Pacific. The earnings release itself typically comes in around 4:30 PM Eastern. MacRumors will have live coverage of the proceedings.

Top Rated Comments

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95 months ago
26 independent analysts:

Score: 24 Votes (Like | Disagree)
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95 months ago

You don't seem to understand investors. They are not fan boys. They invest their money in hopes it will grow, not stagnate. So just because Apple makes billions if it's not making billions more quarter over quarter, i.e., growing, that's NOT a good thing.

Last quarters, the stock didn't drop because revenues didn't grow, it dropped because the growth of revenues didn't grow. They expect Apple's revenues to grow exponentially since that's what we've been accustomed to in recent years.

Even if Apple has, by a large margin, the highest profit share in 3 of the most profitable industries on earth (computers, smartphones and tablets), they're expected to continue growing very fast by introducing new super-profitable categories and again, grabbing most of their profits while said categories grow exponentially. All that without losing profit share in past categories while they also continue to grow. Easy task eh?

Meanwhile, companies like Amazon see their stock going up while they report no profit at all.
Score: 11 Votes (Like | Disagree)
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95 months ago

In b4 Apple is doomed because it didn't meet Wall Street's expectations but still made billions of dollars.


You don't seem to understand investors. They are not fan boys. They invest their money in hopes it will grow, not stagnate. So just because Apple makes billions if it's not making billions more quarter over quarter, i.e., growing, that's NOT a good thing.
Score: 9 Votes (Like | Disagree)
Avatar
95 months ago

In b4 Apple is doomed because it didn't meet Wall Street's expectations but still made billions of dollars.

Agreed. I know of no other business that is called "doomed" because they "only" pull in margins above 35% every time, when others pull in something like 5% and are treated like the Second Coming.

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You don't seem to understand investors. They are not fan boys. They invest their money in hopes it will grow, not stagnate. So just because Apple makes billions if it's not making billions more quarter over quarter, i.e., growing, that's NOT a good thing.

Wrong. They want their money to double RIGHT NOW instead of exercising the patience that a sensible person would. That's why Warren Buffet plays the long game and reaps amazing success, and these other airchair experts are little more than get-rich-quick-demanding fools.
Score: 6 Votes (Like | Disagree)
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95 months ago
It's been exactly 6 months since the last Apple event, something needs to happen soon!
Score: 4 Votes (Like | Disagree)
Avatar
95 months ago
In b4 Apple is doomed because it didn't meet Wall Street's expectations but still made billions of dollars.
Score: 4 Votes (Like | Disagree)

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