The first test of Apple's new guidance philosophy: Belief vs. reasonable confidence.
FORTUNE -- In January, when Apple (AAPL) reported its earnings for the December quarter -- its first fiscal quarter of 2013 -- the company made explicit a change most investors seem to have missed.
For years Apple had been low-balling Wall Street, offering revenue and earnings forecasts every three months so "conservative" they became a running joke. Every quarter, everybody MOREPhilip Elmer-DeWitt - Apr 21, 2013 7:36 AM ET
The focus next Tuesday will be on how efficiently Apple turned revenues into earnings.
FORTUNE -- Apple's (AAPL) shares have been getting slammed as Wall Street frets about its March quarter earnings report, due out next Tuesday.
Whether the stock bounces from the 16-month low it hit Wednesday or sinks even lower may depend less on iPhone or iPad sales than on its guidance for the June quarter (more on that later) MOREPhilip Elmer-DeWitt - Apr 18, 2013 8:23 AM ET
The conference call with analysts begins at 5 p.m. Eastern (2 p.m. Pacific).
FORTUNE -- There should, in theory, be fewer surprises than usual three weeks from now when Apple (AAPL) releases the results of its second fiscal quarter of 2013.
In January the company changed the way it gives analysts guidance, replacing the "conservative" estimates of the past indicating what it had reasonable confidence of achieving with a range that reflects its MOREPhilip Elmer-DeWitt - Apr 2, 2013 6:41 AM ET
If Apple is about to report its best ever quarter, why does the stock keep falling?
FORTUNE (Hanoi) -- It's hard to reconcile the steep downward slope of the small chart above with the upward thrust of the two larger charts at right.
The first shows Apple's (AAPL) share price falling 27% since the close of the company's last fiscal quarter.
The second two charts show the consensus of the 67 analysts we MOREPhilip Elmer-DeWitt - Jan 15, 2013 4:05 PM ET
If it weren't for the yuan, Apple might have beaten the Street's expectations
FORTUNE -- Ever since Thursday, when Apple (AAPL) confounded Wall Street's consensus by beating on revenue ($36 billion vs. $35.8 billion) and missing on earnings ($8.67 vs. $8.75), analysts have been scratching their heads trying to understand what happened.
Most analysts focused on the shortfall of iPad sales -- an explanation that loses some of its persuasive punch when MOREPhilip Elmer-DeWitt - Oct 28, 2012 9:18 AM ET
Most see a silver lining, despite disappointing Q4's earnings and troubling Q1 guidance
FORTUNE -- The earnings report Apple (AAPL) issued Thursday evening was complicated one, and analysts on Friday -- like voters in the U.S. Presidential election -- were trying to thread the needle between hope and disappointment.
Excerpts from their notes to clients:
UPDATE: Another wave arrived Friday afternoon. New ones on top.
Sterne Agee's Shaw Wu: Rare EPS Miss But Would MOREPhilip Elmer-DeWitt - Oct 26, 2012 4:03 PM ET
For the third time in five quarters, the professional analysts outgunned the amateurs
FORTUNE -- It was a great story while it lasted.
For nearly three years the professional sell-side analysts who cover Apple (AAPL) for the big banks and brokerage houses got clobbered every quarter by a motley group of amateurs -- bloggers, day traders and individual investors who bet on Apple to beat the Street's consensus and hadn't been wrong MOREPhilip Elmer-DeWitt - Oct 26, 2012 9:06 AM ET
It lost $40 just before a product launch and what should be record Q4 earnings
FORTUNE -- Andy Zaky had some explaining to do Friday.
Not only had he risked his reputation as a canny Apple (AAPL) trader by issuing a "buy" recommendation on Oct. 9 -- his sixth in as many years -- at what he said was at or near Apple's bottom, but he had lambasted here, here and here MOREPhilip Elmer-DeWitt - Oct 20, 2012 11:06 AM ET
Doug Kass is happy to report that Apple has dropped $50 since he started trashing it
FORTUNE -- In the weeks before Apple (AAPL) releases its quarterly earnings we like to keep an eye out for what Jason Schwarz, in his classic Apple: Seven Reasons Shorts Love It, called the Apple slingshot:
"If you can keep a good stock down then you are able to load up for the ride back up," he wrote. MOREPhilip Elmer-DeWitt - Oct 8, 2012 1:47 PM ET
The results of a hard-to-predict quarter are coming out a little late this year
FORTUNE -- Apple's (AAPL) fourth fiscal quarter of 2012 -- which closed last Saturday, Sept. 29 -- was supposed to be even weaker than the third.
As CEO Tim Cook explained to analysts last July, Q3's earnings were reduced by customers who put off buying an iPhone after reading press reports that Apple was working on a new MOREPhilip Elmer-DeWitt - Oct 2, 2012 5:50 AM ET
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