This is just an update to this morning's post. As I said this morning:
Based on past performance Business Insider says the Whisper number is about EPS of $12.41 and revenue of $38.51 billion while official estimates are only $10 EPS and revenue of $36.63 billion.
I believe Apple has become of overriding importance in the narrow US market leadership. If it beats its numbers substantially, it will have a lot of momentum to take it to unheard of levels. On the other hand, a miss will cause a massive selloff. This all means a beat in the range between the Whisper number and the official estimates is the one that will produce the least volatile outcome.
The outcome at 4PM was a profit of $12.30 a share ($11.62 billion), up from $6.40 a share ($5.98 billion) last year. ...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.