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Rating Summary:
50 Buy, 9 Hold, 1 Sell
Rating Trend: Down
Today’s Overall Ratings:
Shares of Apple Inc. (NASDAQ: AAPL) are up 1.7 percent into first quarter 2013 earnings results after the close. Shares are down 27 percent from the September highs amid concerns about demand, ASPs and margins.
Analysts on average are looking for the company to post EPS of $13.44 on revenues of $54.73 billion, representing year-over-year growth of -3.1% and 18.1%, respectively.
Apple has missed quarterly estimate two out of the last four quarters, but during that time has still beat the consensus 12.2% on average.
Looking at unit expectations, the Street expects iPhone unit sales of 47.8 million with a range of 43.1-53 million. They see iPad units of 22.4 million on average, with a range of 18.4-26 million.
Guidance is expected to be muted, which is Apple’s M.O. However, given that over the past month or so reports of supplier component cuts of as high as 50 percent has rocked the stock, the outlook will be crucial.
Top-rated analyst Scott Thompson from FBR Capital weighed in on the stock today. He said strong Q1 results could serve as a catalyst. Due to what they expect was strong demand for iPhone 5, iPad mini, and fourth-generation iPad devices, they made upward revisions to F1Q13 estimates.
FBR’s F1Q13 revenue estimate was raised to $56.3 billion from $54.8 billion and above the consensus $54.9 billion estimate. The firm adjusted F1Q13 GM estimate up to 37.4% from 37.3%, below the consensus 38.7% estimate. F1Q13 EPS estimate improves to $13.65, up from $13.19 and above the $13.45 consensus estimate.
Apple normally posts results at 4:30PM ET. The conference call is scheduled for 5PM ET. Tune in here.
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