Posts Tagged ‘guidance’

Apple Mac Sales Soar, iPhone Misses

Apple Mac Sales Soar, iPhone Misses

Courtesy of Dan Frommer at Clusterstock

steve jobs - tbiApple threw us a curveball today: The company reported results in GAAP format, reflecting an accounting change that means they no longer have to distribute iPhone revenue and earnings over 24 months.

Unfortunately, that means Apple’s GAAP results don’t match up with non-GAAP estimates. So analysts are going to have to tweak their models.

As expected, the Mac had a monster quarter. Apple reported 3.36 million Mac shipments, higher than the Street expected. But the iPhone was relatively weak: Apple only shipped 8.7 million iPhones, lower than the 9.1 million Street consensus.

Steve Jobs also touted the Apple tablet in the earnings release: "The new products we are planning to release this year are very strong, starting this week with a major new product that we’re really excited about."

Shares resumed trading at 4:55 and were immediately down about 1%. But now it seems to be creeping upwards.

Join us for LIVE coverage of the company’s conference call, beginning at 5:00 p.m. ET. Click here for the latest.

Key stats:

  • GAAP Revenue: $15.7 billion
  • GAAP EPS: $3.67
  • Macs: 3.4 million vs. 3.0 million consensus
  • iPhones: 8.7 million vs. 9.1 million consensus
  • iPod: 21 million vs. 21.0 million consensus
  • Gross margin: 40.9%
  • Guidance (Rev.): $11.0 billion to $11.4 billion
  • Guidance (EPS): $2.06 to $2.18

LIVE Conference call coverage: (refresh for the latest)

4:52 Waiting for call to begin..

5:04 Call begins. Opening remarks from IR boss.

5:04 COO Tim Cook, CFO Oppenheimer on the call. No Steve Jobs. (Jobs not expected.)

5:05 Oppenheimer: We’re thrilled to report our best quarter ever! New records for Macs and iPhones. All historical comps busted because of new accounting rules. Peter will explain in detail coming up. Now going over results from release.

5:07 Record Mac sales of 3.36 million, beating by over 300,000. Up 33% year-over-year. Compares extremely favorable to ICD’s 17% year-over-year growth for the market. iMac especially huge.

5:08 New records for K-12 and High ed for Dec. quarter.

5:08 Traditional iPods declined, but 55% y/y increase in iPod touch, sending up ASP and revenue.

5:09 Strong sales of music, video, and apps drove up iTunes sales. Features over 8,000 films,…
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Microsoft Guidance Change Leads To MASSIVE Confusion

CNBC Blows Microsoft Guidance Cut, Creaming Stock (MSFT)

steve ballmer - tbiCourtesy of Jay Yarow and Joe Weisenthal at Clusterstock

Update: At about 10:50 ET this morning, CNBC  and WSJ’s Digits Blog reported that Microsoft had lowered guidance on its conference call.  The stock immediately tanked.

What Microsoft actually lowered was OPERATING EXPENSE guidance.  In other words, the company said it would spend less than it previously thought.  This is good news, not bad, so all else being equal, it’s good for the stock.

About 10 minutes after reporting a guidance cut, CNBC came back and said the lowered guidance referred to costs.

Previously,

Microsoft Guidance Change Leads To MASSIVE Confusion (MSFT)

Update: We’re still trying to figure out what’s going on here, but both CNBC and and WSJ’s Digits Blog reported that at 10:50 Microsoft lowered revenue guidance.

Then about 10 minutes later CNBC came back and said the lowered guidance referred to costs. Either way, the confusion here is massive and significant, but we’re not clear whether the error was on Microsoft’s side or on the media’s side.

(A user error on our part led to us accidentally quitting the call 20 minutes in.)

——-

On its earnings call, Microsoft (MSFT) lowered its guidance for cost in the next quarter to $26.2 to $26.5 billion from $26.7-$26.9 billion.

Other notes:

  • Headcount reduction of 4% was biggest in company’s history.
  • Online ads were down 3%
  • Xbox revenue up 50%
  • Microsoft says it will get not revenue contribution from the Yahoo deal this fiscal year.
  • As a matter of fact it expects $200 million in costs from the deal.
  • Excited about Windows 7
  • Cashback program on search not much of an impact in the quarter

Microsoft’s stock is pulling back from its highs. Though, the market at large is falling.

See Also:

Market Gets No Help From Microsoft And Amazon (MSFT, AMZN)

Microsoft Crushes Estimates, Stock Takes Off (MSFT)

Well, What Do You Know: Google Is Actually Nervous About Microsoft Bing (GOOG, MSFT)

Comment:

Henry Blodget

Henry Blodget

It sounds like everyone is confusing "REVENUE" guidance with "OPERATING EXPENSE" guidance.

A cut in the former is bad. A cut in the latter is good.

 


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Zero Hedge

How Many Cups Of Coffee Do Americans Drink Each Day?

Courtesy of ZeroHedge View original post here.

According to the Statista Global Consumer Survey, drinking two to three cups each day is the most common coffee consumption pattern among Americans.

44 percent of U.S. adults said that they drank this many 7 oz. cups per day on average.

The second most common answer – which will make many coffee lovers shake their heads in disbelief – was one cup or no coffee at all. 26 percent said they fell into that category.

In fact, ...



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Phil's Favorites

How palm oil became the world's most hated, most used fat source

 

How palm oil became the world’s most hated, most used fat source

Oil palm fruit in North Aceh, Indonesia. Fachrul Reza / Barcroft Media via Getty Images

Courtesy of Jonathan E. Robins, Michigan Technological University

Palm oil is everywhere today: in food, soap, lipstick, even newspaper ink. It’s been called the world’s most hated crop because of its association with de...



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Biotech/COVID-19

The FDA's weak drug manufacturing oversight is a potentially deadly problem

 

The FDA’s weak drug manufacturing oversight is a potentially deadly problem

Though drug recalls are relatively uncommon in the U.S., reduced inspections increase the likelihood of manufacturing errors that slip through the cracks. AP Photo/Rafiq Maqbool

Courtesy of Adrian V. Hernandez, University of Connecticut and C. Michael White, University of Connecticut

The ...



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Digital Currencies

Will Bitcoin Crash the Stock Market?

 

Will Bitcoin Crash the Stock Market?

Courtesy of 

When the S&P 500 fell in March last year, it brought Bitcoin down with it. So if stocks can bring down Bitcoin, it’s reasonable to ask if Bitcoin can bring down stocks.*

If you thought the Bitcoin run-up to 60k was emblematic of investor** euphoria, then you probably wondered what would happen if it were to come crashing down. Would that take other high-flying areas of the market down with it?

It might be premature, but as of now, the answer is no.

...



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Chart School

RTT Plus Bulletin

Courtesy of Read the Ticker

RTT Plus private blog answer these questions over the last two weeks.

Ending: 2021-06-19

- Metal stocks very bullish after gold smash
- FED taper talk vs Basel 3
- Dollar devaluatioin before end of 2021
- COVID, Vaccine insight (off topic)
- The next play for the deep sate (off topic)
- The debt loaded USA can not break these economic stats


RTT Plus membership required to review.

RTT Plus members can include chart building services if you wish. If you you do not want chart building services select 'RTT Plus' only during the membership sign up process.

Sign up now!






...

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Politics

The Ukraine Fallacies (with Victor Rud)

 

The Ukraine Fallacies (with Victor Rud)

Americans are confused about the history of Ukraine. That's just how Russia wants it.

Courtesy of Greg Olear, at PREVAIL

Greg is the author of Dirty Rubles: An Introduction to Trump/Russia 

...

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Promotions

Live Webinar with Phil on Option Strategies

 

June is TD Bank's Option Education Month, and today (Thursday, June 10) at 1 pm EST, Phil will speak with host Bryan Rogers about selling options and various option strategies that we use here at Phil's Stock World. Don't miss this event!

Click here to register for TD's live webinar with Phil.

 

...

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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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