According to analyst Amit Daryanani, the big money is looking for a $2-$3 billion upside.
From a note to Evercore clients that landed on my desktop Sunday:
Buyside Expectations: Street is modeling dec-qtr at $88B/$4.53 vs Apple’s guide that stood at – $85.5B-$89.5B sales and implied EPS at 4.49. We think buyside is looking for clear upside vs dec-qtr expectations with revenues expected to be in the range of $90-$91B and EPS in the $4.60 range. Street is modeling dec-qtr sales at $88B, so we think buyside expects $2B-$3B in upside here given favorable iPhone units (street estimating iPhone units at 68M, up 3M y/y). For March-qtr, street is modeling sales down 30% q/q to $62.4B and EPS of $4.54 implying GMs come in at 38.1% (~flat q/q). (emphasis mine)
Maintains Outperform rating and $360 target.
My take: $90-91 billion? Could be. Or could be numbers whispered to set Apple up for a fall.