Are you on the edge of your seat? Yeah, me too. With Apple's (NASDAQ: AAPL) quarterly results being announced today, the world is waiting to see the effect of strong sales for the new iPhone, hopefully continuing the positive news reported by Intel (NASDAQ: INTC) last week. Everybody is looking for signs of a recovery, and a robust report from Apple could be interpreted as a hint that consumer sentiment is changing.
Analysts note that demand for the 3G iPhone remains strong, with lower prices on laptops (for which demand has increased, as well) likely to add to the company's sales number. For the phones, of course, they noted that customers continue to wait in line, according to a report by Reuters. All of this bodes well for the company in the near term (and its stock price for that matter) and has the added perk of positioning Apple well for a turn in the market. Customers who spend money now will spend even more when they have deeper pockets.
And, Apple will be there to help the consumer spend.
Apple has been among the top tech stocks of the year, with its share price up 6% on Intel's good news and 70% for the year. Wall Street expects Apple's earnings to hit $1.16 a share, with revenue of $8.2 billion, for the second calendar quarter of 2009. Earnings would be off 2%, but revenue would be up 10% from Q2 2008. For the third quarter, the rumor is EPS above $1.20, with Apple's tendency to forecast conservatively and beat expectations.
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Reader Comments (Page 1 of 1)
7-21-2009 @ 9:50AM
Beltway Greg said...
$1.47/share. Will probably sell off on the dreaded valuation/recent rise/market trends. Wouldn't add looking for some type of quick 5 point pop but won't disappoint heading into the holiday shopping system. Apple is running today with bandages and the recent addition of blinkers and the change of jockey should do it some good. It recently worked five furlongs in 58 4/5 so it appears to be sharp.
7-21-2009 @ 11:05AM
Klint said...
Beltway Greg, ummm... try again. This time in English.
7-21-2009 @ 11:58AM
ebrandler34 said...
I wouldn't use the word "mirage", but there are some dark clouds on the horizon for AAPL. Right now all the mutual funds and retail investors are scooping up shares ... because (it is said) Apple is "can't miss". In the longer horizon, the American consumer is fickle and it is easier to see AAPL at 125 than 180 in six months.
7-21-2009 @ 12:29PM
Beltway Greg said...
If Apple goes to $125 cue the choir and have them sing "Oh Happy Day." (I believe that was the Edward Hawkins Singers?) I hope the hedge funds engineer some type of mass drop to that level. Remember, we're just mice in a room full of elephants so when they head for the exits you better move and you better be prepared beforehand.
Remember, you're no Lenny Dykstra, "He's one of the great ones."
7-21-2009 @ 5:15PM
Beltway Greg said...
Not $1.47 but I'll take $1.35. When it passed $157.00 in the after market I almost cried. Thanks to all of you folks that were short you do indeed perform a needed function in the stock market. See you at $200.
7-21-2009 @ 5:27PM
Beltway Greg said...
Update at 5:24 p.m. et Citigroup analyst Richard Gardner
asked a question on the earnings conference call. Check this guy's history. How is he still employed?
8-17-2009 @ 6:05AM
Maria said...
Do you have any news regarding the exploding iPhones ?
There is a game i made for this issue, please Apple take care of the customers health.
Maria
www.makeipodsafe.com