Some analysts see Apple Q312 earnings missing Wall Street’s consensus estimate tomorrow

“Apple Inc faces an unusual phenomenon when reporting earnings this time around: low expectations. Few are expecting the world’s most valuable technology company — which surpasses Wall Street expectations with near regularity — to deliver a bumper quarter once more on Tuesday,” Poornima Gupta reports for Reuters. “The main reason: consumers holding out for the new iPhone.”

“The iPhone 5 is only expected to hit store shelves around October — just in time for the holidays — with a thinner, larger screen and fine-tuned search features. Couple that pre-launch lull with slowdowns in Europe and China, Apple’s biggest markets outside of North America, and sentiment on the Wall Street darling is more muted than many can remember in a while,” Gupta reports. “‘No longer is Apple the company that beats every time,’ said Tim Lesko, portfolio manager at Granite Investment Advisors, which owns Apple stock. ‘I expect Apple to beat Apple’s guidance, but I don’t know whether they will beat Wall Street’s guidance.'”

“Apple is expected to report fiscal third-quarter earnings of $10.35 a share on revenue of $37.2 billion, according to Thomson Reuters I/B/E/S,” Gupta reports. “Top Wall Street analysts are betting the numbers will undershoot that. Apple may miss the average sales forecast by about 0.2 percent, according to Thomson Reuters Starmine’s SmartEstimates, which places greater emphasis on timely forecasts by top-rated analysts.”

MacDailyNews Note: On April 24, 2012, Apple CFO Peter Oppenheimer provided Q312 guidance of “revenue of about $34 billion” and “diluted earnings per share of about $8.68.”

“Wall Street estimates Apple sold about 29 million iPhones, down from 35.1 million sold in the March quarter. Sales of the new iPad, expected to be 14 million to 15 million, is likely to offset part of the anticipated sequential drop in iPhones sales,” Gupta reports. “Wall Street expects that the outlook for this year’s holiday season will be enormous for Apple as it may include the launch of a new iPhone as well as a potential new ‘mini iPad.’ Apple has been working on a smaller tablet, a person familiar with the matter told Reuters.”

Read more in the full article here.

MacDailyNews Note: Apple reports fiscal Q312 earnings results tomorrow after market close. We will have them results as soon as they are available, right around 4:30pm EDT. As usual, we will also provide live notes from Apple’s Q312 Conference Call starting at 5pm EDT tomorrow, July 24.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

13 Comments

  1. Apple will beat expectations as usual. This group of bears is basing its beliefs on the usual, which usually puts them off. If somehow in beating them by billions, APPL sells less iPhones than its last quarter, it will be termed a fail, despite the fact that it will sell more iPads than it has ever sold before. Meanwhile, Samsung can say it shipped 42 million smart phones, not mentioning that more than half are not Android phones or particularly smart and the analysts suck it up. There is one an only one smartphone at the top of the heap and it is the iPhone running the same up to date IOS software and outselling any other single company smartphone running any other compatible operating system across its line of smartphones. It isn’t even close.

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