“Merrill Lynch‘s equity strategist Dan Suzuki and his team today offer up the observation that a better-than-expected S&P 500 earnings season in Q4 was yet another Apple (AAPL) effect,” Tiernan Ray reports for Barron’s.
“The grand total of average earnings per share, $24.56, was better than the $24.37 consensus estimate only because of Apple, which handily beat both sales and profit estimates back on January 24,” Ray reports. “‘Much of the beat was due to stronger-than-expected results from AAPL,’ writes Suzuki. ‘Excluding AAPL, S&P 500 earnings would have missed estimates by 1.4%.’ Q4 earnings growth of 13% would have been just 10% without Apple, moreover.”
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MacDailyNews Take: Behold the power of Apple!