“Although Apple investors are plenty nervous about next week’s March quarter earnings report, the stock’s drop to 16-month lows this week may have more to do with jitters about the next report — the one for the quarter that ends in June,” Philip Elmer-DeWitt reports for Fortune.
“The Street’s consensus as of Friday, according to Thomson Financial’s survey of 44 analysts, is for Apple to report fiscal Q3 earnings of $9.08 per share on sales of $38.91 billion,” P.E.D. reports. “Those numbers are down $1.5% and 1%, respectively, from just last week, thanks in part to a flurry of newly lowered estimates. Between Tuesday and Friday, at least eight Apple analysts warned their clients that Apple’s June quarter could be another tough one.”
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MacDailyNews Take: Go as low as you like; better low than too high.