Apple, which reports June quarter earnings tomorrow, is known for dramatically low-balling its profit guidance, and then miraculously blowing out its “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 tomorrow? Based on Apple’s midpoint June quarter guidance of $0.98 EPS and $7.8 billion in sales, history suggests Apple will report $1.36 earnings per share on $8.35 billion of revenue. The Street “expects” less: Consensus stands at $1.16 EPS on $8.18 billion of revenue.
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