Apple expected to report stellar earnings next week

Tue, Jul 14, 2009

Finance, News

Apple’s next earnings conference call is scheduled to take place on Tuesday July 21, 2009 and initial rumblings suggest that Apple is going to announce a blowout quarter.  In a televised segment for CNBC last Friday, Jim Cramer predicted that Apple will report numbers that will “blow your socks off.”

Take that one for what it’s worth though, because if you recall, funnyman Jon Stewart ripped Cramer a new one last March for his none too proud history of stock manipulation.

But Cramer isn’t the only financial “guru” who’s predicting stellar earnings from Apple.  Gene Munster of Piper Jaffray recently released a report where he observed that stronger than expected MacBook and iPhone sales will help Apple beat analyst estimates for the quarter, and boost Apple’s share price even higher.  In a note to investors earlier this month, Munster wrote that Apple’s new 13-inch MacBook Pro’s were flying off the shelves so quickly that Apple was struggling to keep up with demand.  Also, sales of the new iPhone 3GS have exceeded all analyst expectations, with Apple selling well over 1 million devices in the first weekend alone.  AT&T even noted in an internal email that launch weekend for the 3GS was the company’s most successful weekend in its history.

All in all, Apple seems poised to exceed analyst expectations yet again.

And finally, there’s a rumor that Steve Jobs is planning to attend Apple’s earnings conference call next week.  If so, this would mark his first public appearance since he returned to Apple a few weeks ago.


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