|[10:00 PM] First Call Revises Forecast For AAPL Higher
by Wes George
Apple's mean earnings per share estimates rose a penny this week from $0.43 to $0.44 for the current quarter ending July 18th according to the latest First Call earnings valuation report released yesterday.
The mean earnings per share estimate is derived from the forecasts of 18 analysts who make it their business to follow Apple's business closely. Their estimates range from a low of $0.43 to $0.47 per share for the current quarter (fiscal 3rd quarter).
Note that the earnings per share is cut in half by this week's 2-for-1 stock split.
Perhaps even more significant is First Call's expected annual growth rate for Apple, which was revised up from 17.5% earlier this month to 20% yesterday. The annual growth rate forecast is derived from estimates of 12 analysts.
The Mac Observer Spin: As we approach the end of Apple's 3rd quarter speculation is beginning to heat up over how the numbers for this quarter will work out. Apple has beat earnings estimates for at least 10 consecutive quarters, most recently by 8.6%. In spite of anecdotal evidence of slower iMac sales, we expect they'll beat earnings once again on July 18.