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Apple (AAPL) Beats Street Forecasts !!! Mac Stars

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By Douglas A. McIntyre Updated Published
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Wall St.’s forecasts for Apple (NASDAQ:AAPL) were much, much too low. EPS for the September quarter was $1.82. Most analysts had the number pegged closer to $1.74. In the same quarter last year, EPS was $1.26.

Apple’s share rose over 7% after hours to $203.50.

Apple had revenue of $9.87 billion in the most recent quarter, up from $7.9 billion in the same period a year ago. Impressively, gross margins rose from 34.7% to 36.6%.

Extraordinary, Mac sales were a large part of the reason for the outstanding numbers. The Mac is relatively expensive compared with most PCs, so the figure was even more impressive given the economic environment. Apple sold 3.053 million Macs in the quarter. Most analysts thought the number would be closer to 2.8 million.

Apple sold 10.177 million iPods, slightly better than expectations, and 7.367 iPhones, above estimates of 7 million.

Apple said its fiscal first quarter sales covering the current period would be $11.3 billion to $11.6 billion and EPS of $1.70 to $1.78. Analyst consensus is $11.45 billion and $1.91 a share

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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