• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As U.S. Treasury intervened in the bond market, the Netherlands rushed 86 tons of gold out of America because of ‘geopolitical unrest’

2

'Critical employees will begin to retire': Trump’s new pay plan will deny most federal roles a raise, and it has workers warning of a retention crunch

3

One of MacKenzie Scott's latest donations takes her HBCU giving to well over $1 billion

1

As U.S. Treasury intervened in the bond market, the Netherlands rushed 86 tons of gold out of America because of ‘geopolitical unrest’

2

'Critical employees will begin to retire': Trump’s new pay plan will deny most federal roles a raise, and it has workers warning of a retention crunch

3

One of MacKenzie Scott's latest donations takes her HBCU giving to well over $1 billion

Handicapping Apple’s quarterly revenue and earnings: Q4 2012

By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
By
Philip Elmer-DeWitt
Philip Elmer-DeWitt
Down Arrow Button Icon
October 24, 2012, 5:00 AM ET
Google source logo
Add Fortune on Google for similar content.

Click to enlarge.

NOTE: When Tim Cook announced Tuesday that iPad unit sales hit 100 million about two weeks ago, many analysts revised their numbers downward. Those changes are not reflected in the data that follow. For updated numbers, see Analysts cautious ahead of Apple’s earnings.

FORTUNE — Something interesting happened this quarter when we polled the small army of analysts — 68 in all, professional and otherwise — who follow Apple’s (AAPL) every move.

Although there was, as usual, a huge gap between the lowest and highest estimates, the convergence between the two groups that we observed in Q3 seems to have accelerated in Q4.

After getting clobbered quarter after quarter for nearly four years by a bunch of bloggers, day traders and other amateur analysts, the professionals seem to be giving their clients more realistic numbers.

And having badly misjudged three of the last four quarters, the more bullish independents have, for the most part, started to come back to earth.

On average, the pros are looking for Apple to report earnings per share of $8.82 on sales of $36.02 billion.

The independents are expecting earnings of $10.14 on sales of $38.8 billion.

That’s a gap of $2.79 billion (7.7%) on revenue and $1.32 (15%) on EPS.

$2.79 billion seem like a pretty big discrepancy, but in previous quarters the gap been as big as $6.8 billion.

Below the fold: The individual estimates, with the pros in blue and the independents in green, sorted per reader request by the bottom line (i.e. earnings). Note the general segregation between the two color groups.

We’ll find out who was closest to the mark when Apple reports its earnings about 30 minutes after the closing bell on Thursday, Oct. 25. And we’ll be back the next morning to rank the analysts from best to worst in our quarterly Earnings Smackdown.


Click to enlarge.
About the Author
By Philip Elmer-DeWitt
See full bioRight Arrow Button Icon
Google source logo
Add Fortune on Google for similar content.

Latest in


Most Popular

Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

    Latest in


    Most Popular

    © 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
    FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.