Apple Sales and Profit Miss Analysts’ Estimates (Really?)
by Erick Diaz
Apple reported net income of $8.82 billion, or $9.32 a share, up from $7.31 billion, or $7.79 a share, in the period a year earlier. Revenue was $35.02 billion compared with $28.57 billion a year earlier.
This is exactly what is wrong with all the analysts and all the headlines everywhere. Apple sells more of everything when compared with the same quarter a year ago (except for iPods, which are being cannibalized by iPhones I guess), and yet, everyone is alarmed that Apple did not meet their expectations. Expectations based on estimates created with numbers that came from God knows where, because they were not made from rational or scientific data I can assure you.
Apple had one hell of a quarter, for a tech company or for any kind of company, and yet these clowns complain. But what else is new. Analysts are always wrong on their Apple estimates, and yet they get paid and websites cite them. I would love to get a job in one of those firms. Imagine making money by inventing crap, being wrong all the time, and still get paid obscene amounts of money. Is either analyst or politician.