This quarter the amateurs — with four exceptions — got their spreadsheets handed to them by the pros.


Once again, the amateurs beat the pros.

Once again, the amateurs beat the pros — but not by so much this quarter.

Once again, the amateurs clobbered the pros.
Indies who missed the memo that this was low-expectations quarter got clobbered by the pros. Six of the top 10 spots this round went to Wall Street professionals.
A mixed quarter, with good and bad estimates spread is roughly equal measure among the pros and indies.

Apple's mixed-bag of a quarter delivered a mixed bag of results among the professional and independent analysts. Although the indies took 7 of the 10 top spots, measured by top and bottom line estimates, they also took the bottom 2.
Apple's better-than-expected March quarter surprised the pros and vindicated the indies.
Read More Best and worst Apple analysts: Q2 2023 (corrected)

It was an awful quarter for Apple and an even worse one for my panel of independent analysts.

This was a tough quarter to call, and everybody got something wrong.
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