No, the week of the ER. Not next week. I'm just passing along the message posted on CMRC.
We all know how negative news raises the Street's expectation of more bad news. Positive news has the same effect, but in reverse. Monday, the 16, ARBA reports. Tuesday, the 17th, CMRC reports. Wednesday, the 18, AAPL reports. The first two should have great earnings to report. There still may be selling on the news of those companies stock, but the news should be uplifting anyway.
AAPL should be ready to rally if the accurate report spells "one quarter hic-up." Right now the Street is betting that Apple has been living on finite customer loyalty and the latest product refresh didn't keep the momentum going so the party must be over.
In my own estimation, the quarter under-performed for several reasons. In July, people were waiting for the new products most of the month. Once the products were shipping, the high end G4 MPs were competing with some attractively priced G4 close-outs already in the channel. The newer monitors were in short supply which further constricted sales of the MPs. The low-ball iMac wasn't shipping at a time when schools might have loaded up on them. The last month of the quarter, when things should have been ramping up, was hit hard by the Euro devaluation and falling consumer demand due to economic uncertainty, higher fuel prices and the usual increase in back to school spending on cloths, books and tuition.
When you only have one good month out of three, the numbers are going to fall short of inflated expectations. Not that they will, but in light of what happened, Apple should be applauded for making .33 in such a difficult quarter with so many extenuating circumstances.
HerbVic |
