Apple (AAPL), which reports September quarter earnings today, is known for dramatically low-balling its profit guidance, and then miraculously blowing out “expectations.” Since December, 2006, Apple has topped its quarterly EPS guidance by an average 39%, and its revenue guidance by an average 7%.
So what does that mean for today?
Based on Apple’s midpoint September quarter guidance of $1.20 EPS and $8.8 billion in sales, history suggests Apple should report EPS of about $1.65 on $9.4 billion of revenue. (More specifically, $1.67 on $9.42 billion of revenue.) The Street “expects” less: Consensus stands at $1.42 EPS on $9.2 billion of revenue.
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