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Technology Stocks : Apple Inc.

AAPL 267.51

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To: Sowbug who wrote (7721)	1/15/1998 12:35:00 PM
From: Eric Yang	Read Replies (1) of 213173

>>Paraphrased: "Apple beats the street, making good on its promise. It turned a profit of 33 cents a share, versus Wall Street's bet only weeks ago that it would show a loss. Still, analysts say Apple has a long way to go." Kind of a curious way to put it (since estimates were for 35 cents), but I don't mind<< Earning $47 million, Apple did beat the estimate by $2 million or about 2 cents per share. The new accounting rule required that companies also report the diluted earnings/share number in addition to the normal earning/share. Many reporters and even so called experts didn't know this so when they heard the 33 cents diluted figure they assumed that Apple has missed its mark eventhough it came in at 37 cents per share. To me, the 35 cents/share number was not the analysts estimate. So I'm not going to credit the analysts for that number. It was literally given to them by Jobs' $45+ million preannouncement. Thus it was Steve Jobs' or Apple's estimate. The $10 million loss WAS the analysts estimate. Eric

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