On July 23rd, “according to Thomson Financial, Wall Street expects Apple to report earnings of $7.33 on sales of $35.17 billion,” Philip Elmer-DeWitt reports for Fortune.
“Even that is too optimistic, according to Fortune’s preliminary survey,” P.E.D. reports. “The median revenue estimate from the 35 Wall Street analysts who have responded so far is $35.02 billion.”
P.E.D. reports, “That’s an interesting number, because $35.02 billion happens to be precisely what Apple reported in the same quarter last year. In other words, Apple’s revenue growth year over year would be zero.”
Read more in the full article here.
MacDailyNews Note: On April 23, 2013, Apple provided the following guidance for its fiscal 2013 third quarter:
• revenue between $33.5 billion and $35.5 billion
• gross margin between 36 percent and 37 percent
• operating expenses between $3.85 billion and $3.95 billion
• other income/(expense) of $300 million
• tax rate of 26%
God I hope the stock tanks and they buy a lot more back. Hopefully in five years they’ll be able to go private and we won’t have to hear about such asinine stuff anymore.
Keep dreaming and keep buying.
This Apple privatization theme pops up far too often. It is BS.
You clearly do not understand stocks and corporations. Common stock represent ownership shares in a corporation. When the “company” buys back stock it is using corporate assets (i.e., owner assets) to reduce the number of shares outstanding. This does not change the fact that the corporation is owned by a large number of institutional and individual investors. A stock buy back does not lead to privatization. Anyone who wants to actually control the corporation would have to purchase a majority of the outstanding shares (although even just 5% or 10% of the voting stock confers a lot of power). Anyone (or any group) that wants to own the corporation and take it private (i.e., ownership shares in the company would not be publicly traded) would have to buy all of the outstanding shares. This would typically require that the would-be owners pay a substantial premium over the current market cap/share price. Buying out a company with a $400B market cap would require some amazingly deep pockets and a lot of borrowing.
Apple is not going private. Furthermore, it is unclear to me that it would be advantageous to Mac and iOS users to have Apple go private.
It is unbelievable that people keep throwing that out there. Damn! You don’t have to be a Wharton graduate to understand that Apple is never going private.
Asinine is the notion of a company with a market cap of around $400 billion dollars going back private. Cut that in half and it’s still Royal Dutch Shell or Coca Cola.
Not that asinine when u consider they have 150 billion in cash and adding aprox 50 billion a year to that amount…
2/3 of that cash is overseas.
http://www.forbes.com/sites/timworstall/2013/04/19/why-apple-cannot-finance-its-own-buyout-to-go-private/
Dumbass – Apple cannot use their cash to go private? They would have to raise private money to buyout the existing shares.
The stock buyback is different because the remaining shares now own a larger part of the company.
I expect a profit magin improvement in Apple.