The forecasts of 59 Apple analysts -- 38 Wall Street professionals and 21 independents
FORTUNE -- The results of Fortune's quarterly survey of Apple (AAPL) analysts are in. The professionals are, as usual, more cautious than the amateurs -- but not consistently so (see iPods, Macs and iTunes).
Nobody, however, is expecting a blow-out quarter. Earnings estimates are down across the board -- anywhere from -7% year over year (according to independent Patrick Smellie MOREPhilip Elmer-DeWitt - Jul 22, 2013 6:31 AM ET
The analysts' estimates range from 13.5 million to 22 million. The median is 18 million.
FORTUNE -- Apple (AAPL) refreshed its iPad line out of sequence last fall to capitalize on the holiday quarter, and as a result the company's June quarter came and went without a new iPad to sell for the first time since Steve Jobs unveiled the device in 2010.
So nobody should be surprised, especially with competition in the MOREPhilip Elmer-DeWitt - Jul 17, 2013 11:06 AM ET
Fine tuning estimates for what most analysts view as a transitional quarter for Apple.
FORTUNE -- We've started to get some last-minute revisions -- positive and negative -- in advance of Apple's (AAPL) fiscal Q3 earnings report, due out next Tuesday after the markets close.
Here are excerpts from a few early notes. More as they come in.
Morgan Stanley's Katy Huberty: iPhone Drives Jun Q Upside; Expect Conservative Guide. "We're positively biased into MOREPhilip Elmer-DeWitt - Jul 17, 2013 2:51 AM ET
Wall Street's initial reactions were measured but positive. More as they come in.
FORTUNE -- Analysts who follow Apple (AAPL) may have needed more time than usual to sort through their notes from Monday's over-stuffed WWDC keynote, because by 11 p.m. EST only a handful had filed notes to clients.
Excerpts below of the ones we've seen. New ones will go on top.
JP Morgan's Mark Moskowitz: No Needle Mover, but the Building Blocks MOREPhilip Elmer-DeWitt - Jun 10, 2013 10:59 PM ET
A new look, new services and maybe new MacBooks at Apple's developers conference.
FORTUNE -- The annual gathering of Apple (AAPL) developers -- which sold out in less than 2 minutes when tickets went on sale in April -- kicks off Monday with CEO Tim Cook's keynote at 10:00 a.m. PST (1:00 p.m. EST) in San Francisco's Moscone Center.
There is, as usual, much fevered speculation among the Apple bloggers about what MOREPhilip Elmer-DeWitt - Jun 8, 2013 8:19 AM ET
Do analysts' forecasts really predict Apple's future or merely reflect the recent past?
FORTUNE -- Whenever I write about a change in a particular analyst's price target for Apple (AAPL) -- his or her forecast of what the stock is likely to be worth in 12 months -- readers invariably suggest that it would be more useful to show how that target has changed over time.
I think I know what's behind these MOREPhilip Elmer-DeWitt - May 14, 2013 6:26 AM ET
What they care most about, a survey of 365 sell-side analysts found, are hedge funds.
FORTUNE -- As someone who has been tracking the forecasts of Apple (AAPL) analysts for nearly five years, I was not entirely surprised to learn that when 365 sell-side analysts (not just covering Apple) were asked what factors affected their compensation, the accuracy and timeliness of their earnings forecasts came in dead last.
This revelation comes from a survey MOREPhilip Elmer-DeWitt - Apr 30, 2013 12:46 PM ET
Having rushed to lower their targets, some Apple analysts may have to reverse course.
FORTUNE -- When Apple (AAPL) touched $445.25 in early afternoon trading Tuesday, it did more than mark a $60.15 (15.6%) rise from its intraday low of $385.10 seven trading days earlier.
It also put Apple's stock price higher than the 12-month price targets of at least eight Wall Street analysts.
Four of those analysts -- Baird's William Power, BMO's MOREPhilip Elmer-DeWitt - Apr 30, 2013 10:57 AM ET
Of the 42 analysts we tracked, 22 reduced their targets an average of 12%.
FORTUNE -- The new dividend and share re-purchase plans Apple (AAPL) announced Tuesday may make the stock more attractive to investors. But the analysts who follow the company couldn't ignore its lower margin and revenue guidance. Their recommendations (Buy, Hold, Sell, etc.) didn't change, but more than half the analysts we polled lowered their 12-month price targets.
A MOREPhilip Elmer-DeWitt - Apr 25, 2013 7:50 AM ET
Solid quarter. Surprising cash plans. Worrisome guidance and lack of new products.
FORTUNE -- The reactions of analysts who tuned into Apple's (AAPL) earnings call Tuesday were all over the lot. There were things they liked, things they didn't and things they have to ponder some more.
Excerpts from the notes we've seen are posted below. This is our third and hopefully final take. Scroll to the bottom to see the notes MOREPhilip Elmer-DeWitt - Apr 24, 2013 10:16 AM ET
|Fears grow over China property flameout|
|How Zuck met Oculus: Facebook's big bet on virtual reality|
|Detroit to auction vacant homes online. Starting bid: $1,000|
|China GDP slows to 7.4% in first quarter|
|Researchers claim to hack fingerprint sensor on Samsung's new Galaxy S5|