“Hasty revisions three weeks before the end of Apple’s last fiscal quarter of the year,” Philip Elmer-DeWitt reports for Fortune.
“It happens every three months. As the end of Apple’s (AAPL) fiscal quarter approaches, the small army of analysts that cover the stock dusts off its spreadsheets, finds them overly conservative and starts issuing revisions,” P.E.D. reports. “If history is any guide, the numbers will be revised again — upward — when the company reports its Q4 2011 earnings in mid-October.”
P.E.D. reports, “The estimates we’ve seen so far from independent analysts (whose track record is considerably better than Wall Street’s) are higher on iPhones and Macs and lower on iPads. On average, they’re calling for 24.9 million iPhones, 4.85 million Macs and 10.5 million iPads.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Dan K.” for the heads up.]