The bloggers beat the pros once again this quarter, but not quite as handily as before
The professional analysts who track Apple (AAPL) for banks and brokerage houses may have been surprised by the $15.7 billion in revenue the company reported Tuesday -- an all-time record for Apple in what is traditionally one of its weakest quarters.
But the blogger-analysts we polled in advance of the earnings report were not. In fact, their consensus estimates for both revenue ($15.74 billion) and earnings ($3.66 per share) were remarkably close to the actual results ($15.7 billion and $3.51, respectively).
Yes, once again the amateurs have beaten the professionals at their own game, although it must be said that the pros did considerably better in our Apple Earnings Smackdown this quarter than they ever have before.
A handful of pros performed quite well, and in four categories -- gross margin and iPhone, iPod and iPad unit sales -- the Street's consensus was actually better than the bloggers'.
But in the categories that matter most -- the top and bottom line numbers -- the bloggers outperformed the pros by roughly two to one.
We've ranked the analysts by the combined accuracy of their revenue and EPS estimates in the table above (click to enlarge). The bloggers are wearing the green shirts, the pros are in red. [For a more sophisticated ranking, using more criteria, see Oh Oh, It's Magic at Deagol's AAPL Model.]
Below the fold: some shout-outs and a color-coded chart of all the categories we tracked. (Green is good, red is bad.)
But in the 19% of enterprises that do, Apple's 10% share is expected to double within a year
It's easier to get a camel through the eye of a needle than to get some tech departments that support Research in Motion's (RIMM) BlackBerry to change gears and support Apple's (AAPL) iPhone.
But that's starting to change, according to a report to clients issued Thursday by Merrill Lynch's (BAC) Scott Craig.
Drawing on a MOREPhilip Elmer-DeWitt - Jul 8, 2010 11:32 AM ET
|Chrysler Group orders donated Vipers destroyed|
|Everything must go: There's a flood of store closings|
|Albertsons to merge with Safeway|
|The real reasons to export U.S. gas|
|Boeing to end pension plans for non-union employees|