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Wall Street Expects Record Shattering Quarter From Apple

Wall Street Expects Record Shattering Quarter From Apple

Apple will announce their financial results for the first fiscal quarter of 2015 this afternoon, and Wall Street is expecting an all-time record from the iPhone maker.

Wall Street Expects Record Shattering Quarter From Apple

AppleInsider:

A poll of 40 analysts by Thomson Reuters has estimated revenue for the December quarter at $67.69 billion. J.P. Morgan’s consensus estimates are slightly lower, at $67.45 billion, while Wells Fargo Securities has estimated Wall Street expectations at $67.3 billion.

Everyone will be watching iPhone sales reports closely, as there are big expectations for Apple’s flagship iPhone 6 and iPhone 6 Plus handsets. Piper Jaffray¬†expects Apple to report they sold between 65 million and 69 million units during the quarter.

Those numbers would shatter Apple’s previous all-time record from the December 2013 quarter, when Apple sold 51 million iPhones, earning $57.6 billion in revenue.

As for the iPad, Piper Jaffray expects the iPad to move 22.5 million units, a 14% year-over-year decline. Other professional analysts polled by Fortune expect slightly lower numbers, with an average expectation of 21.11 million iPads sold in the quarter.

However, more is expected from the Mac this quarter, with Piper Jaffray expecting sales to grow year-over-year to 5.3 million units. Fortune’s poll shows a slightly higher expectation, with an expected 5.49 million Macs sold in the December quarter.

J.P. Morgan has market consensus of gross margins pegged at 38.5%, and an average estimate for earnings per share for the quarter is $2.60.

Apple will report the results of their first quarter of fiscal 2015, (Q4 2014 calendar), this afternoon following the close of the markets. MacTrast will bring you full coverage of the numbers as soon as they are available.

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