Analysts predict Apple will return to growth when the company announces its quarterly earnings later today, reports Philip Elmer-Dewitt of Fortune. Growth will be in the single digits and will be an improvement over the negative earnings growth the company reported for the previous three quarters. Apple is not, however, expected to return to the 50% growth it achieved between 2010 and 2012.
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The consensus estimates among the 47 Apple analysts we've heard from so far -- 29 Wall Street professionals and 18 Internet amateurs -- are for earnings of $14.36 per share on sales of $58.1 billion. That represents year-over-year growth of 4.0% for earnings and 6.6% for revenue.
Eighty percent of Fortune's surveyed analysts estimate Apple's revenue will fall within the company's guidance of $55 to $58 billion. Six analysts predict Apple will beat the street with revenue that tops $58 billion. Consensus estimates also predict Apple will sell a record 55 million iPhones and 25 million iPads in 1Q 2014.
Apple will report its quarterly earnings today after the close of trading, at approximately 4:30 PM Eastern / 1:30 PM Pacific. MacRumors will have full coverage of Apple's earnings release and the conference call taking place at 5:00 PM Eastern / 2:00 PM Pacific.
Top Rated Comments
I hope they can keep Icahn and his bandwagon buddies out of their business.
Apple will likely make shareholders cry tears of blood just like they usually do on earnings because of their insistence on hoarding every penny they make instead of using it to expand into new businesses. Only companies like Google and Amazon go up 10% to 15% on earnings because they're always looking out for their shareholders by trying to get every ounce of value out of the money they make.
Geez dude your constant ranting is getting old. It's not Tim a Cook's fault that you bought high and got burned. If you think Google and Amazon are so freaking amazing, get out of Apple and put your money there instead. Just don't come crying when those bubbles burst.Tim Cook makes me sick by smiling and giggling about how Apple did just peachy-dandy selling awesome products while the share price tanks.
Dammit, Cook, get a freaking clue. Wall Street absolutely hates Apple and especially you because you're not one-tenth of the man Steve Jobs was. Google's 3 Stooges of Schmidt, Page and Brin are tearing Apple a new butt canal day in and day out with Android which must be up to at least a hundred million new activations a day.
PROFITS ... the number that really matters to stakeholders.
Unless the subject is Amazon, then it seems to be just fine that they've never made money...