Analysts respond to AAPL earnings, rating the stock a strong buy

Photo: USA Today

Photo: USA Today

Early overnight reports collated by Fortune unsurprisingly show analysts pleased by the higher-than-expected iPhone numbers, with five out of five rating the stock a buy, their price targets ranging from $75 to $252 above yesterday’s closing value. Apple reported iPhone sales of 43.7B against expectations of 38M, and revenue of $45.6B against the consensus estimate of $43.5B.

  • Katy Huberty, Morgen Stanley: Price target $630

  • Gene Munster, Piper Jaffray: Price target $640

  • Brian Marshall, ISI: Price target $600

  • Brian White, Cantor Fitzgerald: Price target $777

  • Peter Misek, Jefferies: Price target $625  …

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AAPL stock drops 8 percent on iPhone numbers and flat guidance

aapl

Despite Apple returning to growth for the first time in a year, AAPL stock opened almost 8 percent down, as iPhone sales fell below analyst predictions and Apple’s mid-point guidance on Q2 earnings forecast was for zero growth.

Analysts had predicted 55.3M iPhone sales, while Apple reported sales of 51M. Analysts were also disappointed in Apple’s guidance for Q2 of $42-44B, as the mid-point of $43B would not show any growth over the same quarter last year …  Read more

AAPL returns to growth, predict analysts, as we await quarterly earnings call

aapl

When Apple reports its quarterly earnings later today, the news will be good, according to the consensus view of 47 Apple analysts compiled by Fortune.

Analysts are expecting the company to report earnings of $58.1B for the final quarter of last year (Apple’s fiscal quarter 1), representing 4 percent earnings growth over the same quarter last year. This would be right at the top end of Apple’s guidance of $55-58B, and the first time in a year that Apple would have reported year-on-year growth …  Read more

Apple reports record quarter: $28.27 billion in revenue, 4.89 million Macs, 17.07 million iPhones, 11.12 million iPads

Apple has just posted their FYQ4 earnings prior to their call at 5 PM. Apple is reporting a quarterly revenue of $28.27 billion and quarterly net profit of $6.62 billion — both records for the company.  Apparently, investors don’t like records.  The stock is down over 5% or 22 points in after hours trading.

Apple also announced that they sold in Q4:

  • 4.89 million Macs
  • 17.07 million iPhones
  • 11.12 million iPads
  • (only) 6.62 million iPods

…Records for both Macs and iPads. The only decline across the board was 6.62 million iPods for Q4, a 27 percent unit decline from Q3 2010.

Apple is now over $100 billion in revenue for fiscal 2011. International sales contributed to 63% of this quarter’s earnings.  Tim Cook and Peter Oppenheimer’s thoughts?

“We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion,” said Tim Cook, Apple’s CEO. “Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline.”

“We are extremely pleased with our record September quarter revenue and earnings and with cash generation of $5.4 billion during the quarter,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about $37 billion and we expect diluted earnings per share of about $9.30.”

Press release after the break:

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