Apple Beats, Guides Lower

Tyler Durden's picture


And here they are:

  • APPLE 2Q REV. $39.19B, EST. $36.87B
  • APPLE 2Q EPS $12.30, EST. $10.02
  • APPLE 2Q IPOD UNITS SOLD 7.7MLN , DOWN 15%            
  • APPLE 2Q IPAD UNITS SOLD 11.8MLN                      
  • APPLE 2Q GROSS MARGIN 47.4%, EST. 42.8%              
  • APPLE 2Q MACINTOSH UNITS SOLD 4MLN , UP 7%            


  • APPLE SEES 3Q REV. ABOUT $34B, EST. $37.49B
  • APPLE SEES 3Q EPS ABOUT $8.68, EST. $9.96       

Is this just the usual lowballing, or is it for real this time? Recall that Tim Cook's first earnings release the company guided above consensus. Is Cook becoming Jobs, or is this a guide down for real?

Also the reason for the beat: ASIA. Not the surge in sequential growth in the traditionally weaker Q2 (ended March 31) quarter all courtesy of Asia:

Stock right now is +$25 in the after hours session.

Your rating: None

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Tue, 04/24/2012 - 16:35 | 2371374 ZeroPower
ZeroPower's picture

Options were implying ~$40 move for tomorrow's open, so looks like $600 is in the cards, again.

Tue, 04/24/2012 - 16:37 | 2371390 SHEEPFUKKER

Foxconn.......coming to Amerika. 

Tue, 04/24/2012 - 16:38 | 2371403 slewie the-pi-rat
slewie the-pi-rat's picture

rejoice slaves, an extra portion of rice for all

Tue, 04/24/2012 - 16:40 | 2371409 Colombian Gringo
Colombian Gringo's picture

Apple still sucks, just kidding <g>

Sounds like they shifted profits and sales from the next quarter into the present quarter. Wouldn't want to screw up the Facebook POS IPO.


Tue, 04/24/2012 - 17:08 | 2371551 spastic_colon
spastic_colon's picture

We all just got gamed by Verizon, CNBS, foxxconn and the bankers and AAPL

Tue, 04/24/2012 - 17:59 | 2371703 Waterfallsparkles
Waterfallsparkles's picture

Negative all day.  Forcing longs to sell.  It was a sham.

Tue, 04/24/2012 - 22:32 | 2372166 Whatta
Whatta's picture

forced me to go long a ATM call spread just before close.

CHA-CHING, a two-bagger+ at opening bell tomorrow. sweet.

Tue, 04/24/2012 - 16:40 | 2371418 fuu
fuu's picture

Fake ass bitch.

Tue, 04/24/2012 - 16:43 | 2371429 derek_vineyard
derek_vineyard's picture

guy from phoenix capital predicting doom for sure, this time not crying wolf, in may/june might have to find another profession

Tue, 04/24/2012 - 17:14 | 2371579 NotApplicable
NotApplicable's picture

Ok, now we've got the doube-hypenated fake to go along with the no-hypenated fake.

Pathetic squared!

Tue, 04/24/2012 - 16:46 | 2371443 ACP
ACP's picture

Kinda reminds me of the Nasdaq rebound in 2000, before it tanked for good.

Tue, 04/24/2012 - 16:51 | 2371461 CPL
CPL's picture

Look who's buying it and volume.  No thank you.

Tue, 04/24/2012 - 17:43 | 2371669 ZeroPower
ZeroPower's picture

No way to know, though i'd love to hear your clearly bearish thesis on why its a flop based on who is buying it in the a/h session.

Tue, 04/24/2012 - 21:40 | 2372065 SAT 800
SAT 800's picture

Canadian Womens! I like you. I'll try to help you. Short it. Short it right now. It's a classic, classic, example of public fever; aka tulipmania. Okay? Good.

Tue, 04/24/2012 - 21:42 | 2372067 SAT 800
SAT 800's picture

Short it now; Canadian Womens. Dont' wait for anything. Do it now!

Tue, 04/24/2012 - 16:35 | 2371375 Clueless Economist
Clueless Economist's picture


Cramer was right !

Tue, 04/24/2012 - 16:47 | 2371446 Rubbish
Rubbish's picture

I have never owned an apple product, but I do own 2 mosin nagants !

Tue, 04/24/2012 - 16:55 | 2371477 cossack55
cossack55's picture

Used to own a number or AKs till they fell out of the boat.

Tue, 04/24/2012 - 16:56 | 2371493 New American Re...
New American Revolution's picture

But do you have enough ammo?

Tue, 04/24/2012 - 17:23 | 2371620 taniquetil
taniquetil's picture

7.64x54r is cheap cheap cheap!

Tue, 04/24/2012 - 19:32 | 2371871 Clueless Economist
Clueless Economist's picture

500 ROUND bricks @ Cabelas way to go...they even throw the case in for free

Tue, 04/24/2012 - 16:35 | 2371376 JeremyWS
JeremyWS's picture

EU is the most interesting reaction.

Tue, 04/24/2012 - 16:35 | 2371378 slaughterer
slaughterer's picture


Tue, 04/24/2012 - 16:35 | 2371379 PicassoInActions
PicassoInActions's picture

damn, some1 is making money...

Tue, 04/24/2012 - 16:37 | 2371394 slaughterer
slaughterer's picture

As one of the few AAPL bulls here at ZH, I can now change my adult diapers: Tyler, you had me scared for the last two days.   

Tue, 04/24/2012 - 16:39 | 2371406 I am a Man I am...
I am a Man I am Forty's picture

I was not because their analysis has been wrong FOREVER, they have ZERO credibility when it comes to Apple.  ZERO!!!!

Tue, 04/24/2012 - 16:42 | 2371421 homersimpson
homersimpson's picture

I guess if zero credibility = ZH reports Apple sandbags their earnings consistently, then yes.. they have "zero credibility."

Tue, 04/24/2012 - 17:06 | 2371539 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture

Sometimes the analysis gets mixed with the religious fervour. 


TD#1 does have a personal downward bias after all.

Tue, 04/24/2012 - 16:39 | 2371412 CryingBear
CryingBear's picture

bear rally

Tue, 04/24/2012 - 16:46 | 2371441 HarryM
HarryM's picture

Will be 650 by Friday 

Tue, 04/24/2012 - 16:55 | 2371478 SheepDog-One
SheepDog-One's picture

Again? Then what? 

Tue, 04/24/2012 - 16:59 | 2371506 Scalaris
Scalaris's picture

$15049.67 next month.

Tue, 04/24/2012 - 16:56 | 2371490 HarryM
HarryM's picture

The game of chicken , continues

Tue, 04/24/2012 - 16:58 | 2371501 SheepDog-One
SheepDog-One's picture

Not for me, I just laugh at this bullshit. 

Tue, 04/24/2012 - 23:30 | 2372313 williambanzai7
williambanzai7's picture

I sent one email to a well known ZH member.

It had nothing to do with the MSM and Wall Street and lots to do with Jesse Livermore.

It said BTFD

Tue, 04/24/2012 - 16:35 | 2371380 maxmad
maxmad's picture

here comes the selloff!

Tue, 04/24/2012 - 16:36 | 2371386 maxmad
maxmad's picture

592 is the high of this move.... SELL

Tue, 04/24/2012 - 16:41 | 2371416 CClarity
CClarity's picture

596 and don't sell.  Ride it up to 700.

Tue, 04/24/2012 - 16:44 | 2371432 maxmad
maxmad's picture

6 months it will be half off!

Tue, 04/24/2012 - 16:46 | 2371442 maxmad
maxmad's picture

OK 598... This is it now... the high is in...

Tue, 04/24/2012 - 16:53 | 2371469 CClarity
CClarity's picture

Now 602.  Actually, I'd recommend backing out by $650 unless Europe or other general scary market stuff rears its head again (and of course it will) because at the end of the day, Apple is used as market proxy for fast selling, margin calls, liquidity trades, and every "professional" money manager feels compelled to own some or have to explain why not.  

It is a well run company with amazing products.  Huge cash balances and discipline.  It is a quality stock.  But it no longer trades just on that.  Its huge market cap makes it something of a commodity.  Have to pay attention to that too.

Tue, 04/24/2012 - 16:56 | 2371494 blu
blu's picture

Lots of heat still at 603. But yeah I think that might be it.

JNPR exploded before the bell. People are willing to buy.

Tue, 04/24/2012 - 17:08 | 2371552 Al Huxley
Al Huxley's picture

Are you by any chance short AAPL?

Tue, 04/24/2012 - 20:56 | 2371993 disabledvet
disabledvet's picture

short? on this site? NOOOOOOOOOO. Why would you ever think that?

Tue, 04/24/2012 - 16:35 | 2371382 Debtless
Debtless's picture


Tue, 04/24/2012 - 16:35 | 2371383 Cognitive Dissonance
Cognitive Dissonance's picture

Take what (news) you want and leave the rest. At least that's how the HFT algos see the world.

Tue, 04/24/2012 - 16:36 | 2371384 MeanReversion
MeanReversion's picture

Apple is notorious for lowballing so they end up smashing their own estimates.  This is a lowball although I do not expect next quarter to be as strong with no major product launch other than a new mac.

Tue, 04/24/2012 - 16:40 | 2371417 ZeroPower
ZeroPower's picture

New iphone typically comes out in the summer...

Tue, 04/24/2012 - 17:13 | 2371570 MeanReversion
MeanReversion's picture

Normally true, but Qualcomm's supply problems suggest may have issues with a summer release.  It's been suggested that there may be a October release, which would give Apple a massive ramp up for Q4(Apple Q1) earnings.  The wildcard are the impact of new windows tablets and whether carriers start to back a windows phone alternative to exercising subsidy pricing leverage on Apple (I'm skeptical).  Windows tablets I do think have potential, but not enough to put a massive dent in Apple's bottom line.

The other obvious wild card is the macro environment.  Global slowdown is looming which is the most likely road bump for Apple rather than any competitor's products. 

Tue, 04/24/2012 - 21:45 | 2372069 SAT 800
SAT 800's picture

I'm so sorry to see you've been hypnotized. Consider RIMM. Consider it well. These are ephemera. APPL's day in the sun is done. It's over.

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