Merrill Lynch: Apple propped up the S&P 500 earnings season

“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.”

Read more in the full article here.

MacDailyNews Take: Behold the power of Apple!

3 Comments

  1. So, Apple props up the PC industry sales growth numbers. Now AAPL is propping up the earnings numbers for the S&P 500. And where would the music industry be without Apple.

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