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Apple (AAPL), which reports December quarter earnings Monday afternoon, is known for dramatically low-balling its profit guidance, and then miraculously blowing out “expectations.” Since Sept. 2006, Apple has topped its quarterly EPS guidance by an average 39%, and its revenue guidance by an average 7%.
So what does that mean for Monday?
Based on Apple’s midpoint December quarter guidance of $1.74 EPS and $11.45 billion in sales, history suggests Apple should report EPS of about $2.42 on $12.25 billion of revenue. The Street “expects” less: Consensus stands at $2.07 EPS on $12.05 billion of revenue.
More commentary ahead of Apple’s earnings: Click here for our latest video interview with Piper Jaffray analyst Gene Munster, where he says $12.25 billion “is something that they definitely could do.”
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