Tuesday, July 23, 2013

Fiscal 3Q 2013 Final Estimates


At around $424 AAPL is now trading at 9.1x my forward EPS estimate (5.9x ex-cash). These two quarters (June and September) really don't matter, but Apple better beat my revised long-term projections since I've set the bar quite low. I want to start revising numbers upwards from here on, for a change.


3mo ending Jun-2013   Rev($M)   EPS($)
-------------------   -------   ------
Apple guidance(mid)    34,500     7.13 (derived with 934m diluted shares)
Analysts consensus     35,090     7.31
Deagol estimates       36,186     7.70


3mo ending Sep-2013   Rev($M)   EPS($)
-------------------   -------   ------
Deagol estimates       39,690     9.30
Analysts consensus     37,550     8.08
Apple guide (est.)     37,500     8.62 (derived with 922m diluted shares)