Chuck Jones hit Apple’s $7.47 June quarter EPS dead on, here’s what he expects for the September quarter

“I projected Apple’s (AAPL) June quarter’s EPS would be $7.47 on revenue of $36 billion, up an estimated 2.8%,” Chuck Jones writes for Seeking Alpha. “The company’s actual EPS was $7.47 with revenue of $35.3 billion, up 0.9%.”

“I was too low on my gross margin and iPhone unit estimates and too high on my iPad and Mac projections, which offset each other,” Jones writes. “Apple updated guidance when it announced on September 23 that it sold over nine million iPhone 5c’s and 5s’ in their first three days via an SEC 8-K filing. It said ‘Apple expects total company revenue for the fourth fiscal quarter to be near the high end of the previously provided range of $34 billion to $37 billion, and expects gross margin to be near the high end of the previously provided range of 36% to 37%.'”

Jones writes, “I am estimating revenue of $37.5 billion, up 4.3% year over year, which is above the high-end guidance of $37 billion… My EPS estimate is $8.13, down 6% year over year, which is slightly above the high-end of projected guidance of $8.09.”

Much more in the full article here.

Related article:
Apple to webcast Q413 earnings release conference call on October 28th – October 8, 2013


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