Sell-Side Analysts Misunderstand Apple Almost As Badly As They Misunderstand Amazon
They only missed by 20 cents a share on this one!
When consensus estimates on Amazon got curbstomped by 50 cents a share last week, we gave sell-side analysts a break. After all, Jeff Bezos is a wily one, and they spent all those years figuring out how to evaluate Apple.
Well, speaking of Apple...
For its fiscal fourth quarter ending Sept. 30, Apple’s revenue rose 12% to $52.58 billion and profit jumped 19% to $10.71 billion, or $2.07 a share, from $9.01 billion, or $1.67 a share, in the same period a year earlier. Analysts polled by Thomson Reuters had expected earnings of $1.87 a share.
Okay, now you guys just aren't paying attention.
