The tech sector is counting on strong results from Apple

“With a $755 billion market cap and products that inspire throngs of devoted fans, Apple is pretty accustomed to being the center of attention,” Maggie McGrath reports for Forbes. “But when the tech giant reports its earnings results Tuesday afternoon, it could draw extra scrutiny from members of its own cohort, entirely because of the influence it can yield. According to one analysis, Apple’s earnings results have the ability to determine whether or not the information technology sector as a whole reports a second quarter earnings gain — or a second quarter earnings loss.”

“Wall Street analysts expect Apple to report $1.80 in second quarter earnings per share,” McGrath reports. “The ‘whisper number’ compiled by analyst John Scherr is even higher at $1.83 per share; this is because, in the 68 earnings reports for which Scherr has data, Apple has come in above estimates 48 times. But if Apple fails to match the whisper number yet manages to meet or beat the Wall Street consensus, its earnings will be a boon to the IT sector — more so than even Google, Intel, IBM or Netflix, four tech giants that have all reported second quarter earnings beats. According to FactSet analyst John Butters, earnings at or above $1.80 per share will make Apple the largest contributor to the S&P technology sector for the fourth quarter in a row.”

Read more in the full article here.

MacDailyNews Take: Apple makes the world go ’round. As usual.

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8 Comments

  1. Yet, if Apple earns $1.79 per share, Wall Street will have an aneurism and declare Apple has gone to hell and will be out of business by the end of the year.
    Meanwhile Amazon and MicroSoft will get great praise for their market control or whatever is made up by the analysts.

  2. If they are depending on Apple results so much why don’t they clean up the douchbag traders that keep undermining the stock price with bullshit analysis.

    1. What you fail to realize Spark, is that you personally and every other potential AAPL investor is PERSONALLY responsible for the price of the stock! You are not buying stock right now but instead are poised to potentially SELL your stock. It is that exact sentiment multiplied by millions of potential BUYERS that is keeping the stock down.

      It really is just supply and demand and YOU PERSONALLY ARE NOT BUYING, are you? Right. You just complain that it is others who are ‘responsible’ for the price being down. Get off your bank account and buy or quit complaining.

      1. You missed a key part of “Spark’s” sentence.

        “…traders that keep undermining the stock price with bullshit analysis.”

        I’ll boil it down even more.

        “…bullshit analysis.”

        So, the bullshit analysis that keeps popping up in hit pieces scare the small and large buyers and they sell, based on false “bullshit” analysis. Not people like Spark and myself who buy and hold for long term retirement investment.

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