Exclusive: Naming names and setting expectations for today’s Apple earnings report.
Posted Thursday morning from Western Mass.
First the summary:
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Below: The individual analysts’ estimates—as complete, accurate and up-to-date as I can make them. Wall Street professionals in blue, independents in green. Corrections appreciated, but the window closes at noon.
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Tune in after the markets close today (Thursday, Nov. 1) for Apple’s results. I’ll be auditing the call, and you can too. Here’s the webcast link. The fun starts at 5 p.m. ET (2 p.m. PT).
Apple is a global enterprise with five very large product and services revenue segments. Combined, the five revenue segments total well over one-quarter trillion dollars in revenue per annum. Since Apple’s management entered the era of more “realistic” guidance, the spread between the many estimates has narrowed. Add in the vagaries of economic growth rates in five very large regional revenue segments and the outcomes are a function of different math equations and modeling techniques.We are all working with very large numbers comprised of a large number of variables.
For the most part, the independents in the quarterly surveys are as knowledgeable about Apple as the pros. In my view, the unique modeling techniques deployed by each of the analysts create the differences in the estimate outcomes regardless of whether the analyst is an independent or a pro.
If you see it differently, please elaborate.