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
The forecasts of 67 analysts -- 44 Wall Street professionals and 23 independents
FORTUNE -- The results of Fortune's quarterly survey of Apple (AAPL) analysts are in. The pros, as usual, are more cautious than the independents -- but not that much. The gap between the two group's average estimates (summarized above) as as close as I've ever seen them, with the amateurs calling for revenues only 1.3% higher than professionals.
Below: MOREPhilip Elmer-DeWitt - Apr 23, 2013 12:36 PM ET
Monday morning quarterbacking before Apple's Tuesday afternoon earnings call.
FORTUNE --There are always a few stragglers who wait until the last minute to take a fresh look at their Apple (AAPL) spreadsheets -- some of which haven't been updated since January.
Below: Excerpts from the analysts' notes we've seen today. More as they come in, newest on top.
BGC's Colin Gillis: Jump in the fire, as any Apple good news could boost up the MOREPhilip Elmer-DeWitt - Apr 22, 2013 10:56 AM ET
The Street's expectations for fiscal Q3 2013 are down at least 5% since early March
FORTUNE -- Although Apple (AAPL) investors are plenty nervous about next week's March quarter earnings report, the stock's drop to 16-month lows this week may have more to do with jitters about the next report -- the one for the quarter that ends in June.
The Street's consensus as of Friday, according to Thomson Financial's survey of MOREPhilip Elmer-DeWitt - Apr 20, 2013 8:26 AM ET
The picture of an Apple device being disrupted by Apple itself.
FORTUNE -- It's easy to forget that only six years ago the iPod was Apple's (AAPL) biggest money maker, generating (in Q1 2007) more than 48% of the company's revenue. Now the iPod is almost an afterthought in quarterly reports dominated by the iPhone, iPad and Mac -- second-to-last among Apple's six revenue streams, below iTunes and above Accessories.
The last MOREPhilip Elmer-DeWitt - Apr 15, 2013 6:04 AM ET
Some Apple analysts got burned on the way up, others on the way down.
FORTUNE -- Doesn't your heart go out to the Wall Street analysts who have to try to predict the future movement of Apple's (AAPL) shares?
Anybody who set a price target below $300 last year looked pretty stupid when the stock topped $700 in September. On the other hand, the guy with the $1,111 target had some explaining MOREPhilip Elmer-DeWitt - Apr 12, 2013 9:59 AM ET
The analysts' estimates range from 13 million to 21.7 million. The median is 18 million.
FORTUNE -- Credit where credit is due: The consensus among the professional Apple (AAPL) analysts we polled in January was that the company sold about 22.8 million iPads in the Christmas quarter. The company actually sold 22.86 million -- pretty darn close.
(About the independent analysts, whose estimates averaged 25.5 million and ranged as high as 32 MOREPhilip Elmer-DeWitt - Apr 10, 2013 11:29 AM ET
The forecasts range from 32.5 million to 42.5 million. Median estimate: 37 million.
FORTUNE -- iPhone sales were the big surprise this time last year.
Verizon (VZ) and AT&T (T) had just turned in disappointing activation numbers and the talking heads on CNBC were predicting that Apple (AAPL) would totally miss its revenue and earnings targets -- forgetting, apparently, that most iPhone sales take place overseas.
When Apple reported last April that it MOREPhilip Elmer-DeWitt - Apr 7, 2013 5:46 AM ET
Great for Facebook power users. Provocative toward Google. No help for Apple.
FORTUNE -- Having watched Mark Zuckerberg introduce the new Home interface for Android phones, Wall Street analysts wresting with the implications for Facebook (FB), Google (GOOG) and Apple (AAPL) drew on every literary, musical and film reference they could think of, including The Wizard of Oz ("There's no place like home"), ET ("Phone home"), Simon and Garfunkel ("Homeward Bound") MOREPhilip Elmer-DeWitt - Apr 5, 2013 11:10 AM ET
Are all Apple analysts really "nothing more than glorified financial reporters"?
FORTUNE --Because he uses my data to make his point, I feel obliged to respond to AppleInvestor's Ernie Varitimos, who begins a piece posted Thursday with the observation that "there are few people on the planet that can destroy wealth faster than an Apple analyst."
While it's true, as he suggests, that a single ill-timed note by an analyst can wipe out billions MOREPhilip Elmer-DeWitt - Mar 28, 2013 11:47 AM ET
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