the media had spread unfounded rumors than apple would miss estimates of $10.16 due to much lower than expected iphone 4s sales. Remember how 4s was supposed to be a bust? I remember it well because i was down huge after these fears caused the stock dropped from 420 to 355 going into earnings. As we now know it was all b.s and they reported a blowout quarter of $13.87 and the stock was at $420 the next day.
Sentiment: Strong Buy
Ah...what's you point.....and history shows that the market still hates this stock and Cook is useless. Only a true dummy would continually invest in this company....you know it will be down more don't you? Don't get sucked into the hype. I think the earnings will be great (like they always have been) and the stock will have a temporary pop and then, yawn..the down trend will continue as always.....
Sentiment: Strong Buy
This year is very similar to last year. And just like then, if you look past the noise you could see that the quarter was going to be a monster. Last Q1 had an extra month in it, Steve Jobs died and there was massive sympathy buying of Apple products, and usage studies pointed to large market gain in the much panned 4S.
This year doesn't have the extra week but every clue points to big earnings. Apple's US market share is over 50% for the first time. AT&T and Verizon have announced better than expected smartphone sales. The iPhone 5 rollout was far quicker and even included a week in China that brought in around 5M. Apple suppliers are announcing huge sales, China exports are high and the US GDP got at least a .5% bump from the iPhone. And to top it all of, analysts are sandbagging and actually have earnings dropping from last year. The beat will be massive.
To top it off, Q2 guidance will be way better than expected. For whatever reason analysts are forgetting about the Chinese New Year. Last year Q2 was nearly as good as Q1 and Apple stumbled badly in China that quarter. This year they are ready and have even added the mini which has been met with "insatiable demand". Plus Apple offering credit to buyers. Next quarter will be huge.
Apple went from $560 to $610 that day. With the stock at $502 right now is would seem the jump will be a whole lot bigger. Especially considering Apple will most likely announce some goodies like a buyback or dividend raise for the shareholders.
It cracks me up when I hear people mention they will sit out earnings and buy Apple afterwards even if it means losing out on a bounce. They have no idea the opportunity they are going to miss out on.
you're right. I just realized that after i posted. I was thinking of april when they put a negative spin on the verizon iphone numbers and the stock crashed only to jump almost 70 points after earnings release