As Apple gets set to release its earnings later today, the stock is already down as weak earnings within the sector have dragged down tech stocks as a whole. As usual, even if Apple destroys all earnings estimates, the stock will most likely tank if its guidance isn’t up to par with Wall Street’s somewhat arbitrary expectations.
AppleInsider has a good primer on what to expect, what to look for, and what the analysts are predicting for Apple’s earnings call later this afternoon. You can check that out here. Overall, Apple will most likely have another blowout quarter, with over 2.7 million Macs sold, and better than expected iPod sales. But as mentioned previously, analysts will be looking at other numbers, such as iPhone sales (which should blow everyone away), retail store information, and most importantly, guidance for the next quarter. Apple typically guides pretty conservatively and the stock usually takes a hit as a result. It would be great if Apple bucked the trend and gave outstanding and better than expected guidance, something which would be a great boost to other tech stocks as a whole, and something desperately needed in this struggling economy.
Apple will be holding a conferance call at 5 P.M Eastern Standard Time to discuss the financial results from its fourth quarter, which you can listen to live over here.