“Apple (AAPL), the world’s largest company by market cap and recent investor darling, reported great earnings just a few minutes ago. The company saw profits come in at $12.30/share well above the Zacks Consensus Estimate of $10.03/share, pushing the stock up over 7.2% immediately after the release,” Eric Dutram reports for Zacks.
“This solid beat comes after some were beginning to grow worried over the firm and its impressive growth trajectory. Concerns were building over the recent price slump and anxiety over a possible decline in subsidies from telecom giants AT&T and Verizon for the iPhone,” Dutram reports. “However, these worries were easily dispelled after the company’s release as AAPL once again crushed lofty expectations for growth in many of its key products.”
MacDailyNews Take: Trumped up “worries” are easily dispelled.
Dutram reports, “While the huge beat may have come as a surprise to some, those who have been following the earnings estimate trend in AAPL probably aren’t too surprised as analysts have generally been quite bullish on the tech giant… The company has seen earnings estimates rise almost universally over the past month with seven analysts raising their estimates in the past seven days and 13 raising their estimates in the past 30 days. ”
Read more in the full article here.
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