Apple Corporation AAPL Earnings
(This story has been posted on The Wall Street Journal Online's Market Beat
blog at MarketBeat - WSJ.)
By Dave Kansas
Apple reports at 4:30 p.m., here's a quick primer on what to look for.
Apple is expected to report a 66% surge in earnings to $5.85 a share. Revenue
is expected to jump 59% to $24.99 billion. Numbers like that explain why Apple
still trades at a moderate 15 times forward earnings despite its stock surge
over the past couple of years.
My unofficial earnings guess: $6.10 a share, which might be good enough for
those who have bid Apple to record levels in the past couple of days.
Apple up 0.8% at $376.85, a new record close, in regular trading today.
Some key things to watch:
-- iPad 2 launched in the quarter. Its sales are expected to be brisk,
especially compared with last year.
-- Mac sales are expected to remain strong, performing better than the
broader market.
-- iPhone sales -- half the company's revenue -- could be a weak spot. No
new iPhone this quarter, which surprised some Apple fanatics.
-- China. Apple has made noises about getting bigger in China. Comments
about that could be a booster.
-- Steve Jobs. The Journal reported late in the trading session that Apple's
board has had some informal discussions about a possible succession plan.
Mr. Jobs has been on medical leave most of this year.
-For continuously updated news from The Wall Street Journal, see WSJ.com at
http://wsj.com.
Sincerely,
Charles D
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