Asymco: Estimates for Apple’s second fiscal 2012 quarter

Apple Inc’s “last quarter (fourth calendar 2011, first fiscal 2012) was robust with 116% earnings growth and 73% net sales growth,” Horace Dediu reports for Asymco. “I’ve heard many superlatives used to describe it. It is certainly exceptional but it was not as good as the second calendar quarter of 2011.”

“Now it’s time to consider the current quarter. It’s already quite late in the quarter to make predictions, but I waited to hear some data about the iPad,” Dediu reports. “The iPad remains a difficult product to forecast. Mainly because it is a new category and the pattern of growth takes a long time to establish.”

Dediu reports, “Total revenues: $42.7 billion (growth: 73%); Gross Margin: 44.7%; EPS: $12.0 (88%). This earnings value would imply a trailing twelve months’ EPS of about $40.7. At $600/share the P/E would be 14.7. Cash and equivalents will probably increase to $108 billion.”

Much more in the full article, including individual product estimates (Mac, iPad, iPhone, etc.), here.


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