Apple is due to report its Q2 2014 earnings on Wednesday, and Fortune has conducted its usual survey of Wall Street analysts. The 37 analysts who responded to Fortune expect Apple’s earnings to come in towards the high-end of Apple’s guidance.
So what are our analysts expecting this week? No surprises, that’s for sure. The average revenue estimate of the 37 analysts we’ve heard from so far — 14 amateurs and 23 pros — is 43.5 billion, just above the midpoint of Oppenheimer’s range.
The amateurs, as usual, are a bit more bullish. They’re calling for earnings of $10.53 per share on sales of $43.66 billion. The pros are not far behind: earnings of $10.18 on sales of $43.42 billion …
Last week, analyst predicted iPhone sales would be up 2% year-over-year, and they also predicted the iPad would only sell 19.3 million, a small year-over-year drop.
Apple has yet to announce any new products in 2014, despite Tim Cooks promise of “really great stuff […] across all of 2014.”
Analysts are already looking forward to the June quarter.
In a note to clients on Monday, Piper Jaffray’s Gene Munster predicted that Apple’s guidance would once again disappoint. He’s expecting revenue guidance of $35.5-$37.5 billion, than the Street’s $38.3 billion, and gross margin guidance of 36.5-37.5%, a little higher than the Street’s 36.5%.
Apple is set to announce its earnings for the second fiscal quarter (first calendar quarter) of 2014 on Wednesday, April 23. The earnings release should be posted just after 4:30 PM ET following the close of regular stock trading. The Apple conference call is set to follow at 5:00PM Eastern / 2:00PM Pacific time.
