“‘We see a reasonable probability that Apple will miss consensus revenue expectations due to macroeconomic weakness in China and Europe, a product cycle lull in the iPhone, a later than expected introduction of the new iPad into China, and the late quarter introduction of new Mac notebooks.’ So begins the note to clients issued Friday by Bernstein’s Toni Sacconaghi in which he lowered most of his estimates, from iPhone unit sales to his top to bottom lines, for Apple’s third fiscal quarter — one of the factors that helped drive the company’s shares down $10.02 (1.63%) for the day,” Philip Elmer-DeWitt reports for Fortune.
P.E.D. reports, “Contrast that with the e-mail I received from Bullish Cross’ Andy Zaky after he met with Piper Jaffray’s Gene Munster and Asymco’s Horace Dediu at Fortune’s Brainstorm Tech conference last week: ‘After speaking with them, I think this could potentially be a blowout quarter. The most recent blowout quarters we’ve seen in Apple took place in fiscal Q1 2012, fiscal Q3 2011 and fiscal Q2 2010. So they don’t happen THAT often. I think this quarter makes for a good set-up.'”
Read more in the full article here.
MacDailyNews Take: If we had to bet the house, we’d go with Zaky. Over Toni, we’d go with pretty much anybody. We’ll all know soon enough after market close this coming Tuesday.
Apple to webcast Q312 earnings release conference call on July 24 – July 3, 2012