As reported earlier, Apple was supposed to announce the Q2 2012 earnings on 24 April 2012. At the time of this news report being written, We are just few hours away from Apple’s announcement.
AAPL has dropped over $70 a share over the last ten days. At this moment, nobody knows what this should be interpreted as.
Many analysts believe this question will be answered within hours when Apple reports second quarter earnings. The conference call will commences after the close of regular trading on Wall Street, Tuesday, 24 April 2012.
Apple has said that the call will begin at 5:00 PM EST and 2:00 PM PST. At that time, a live stream of the call will available here.
This time, “the street” expects Apple to report earnings of $9.99 per share, and $36.7 billion in total revenue for the quarter. This is, per established habit on Wall Street, higher than Apple’s own estimate of $8.50 per share on $32.5 billion in revenue.
On 24 January 2012 , during Apple’s last earnings call, Apple had not only beaten the street, it blew the street away. Record earnings sent AAPL well past $500 per share and provided the momentum for shares to reach their high-water mark of $644 earlier this month.
Q2 earnings will reflect some of the massive new iPad sales that helped Apple reach historic fiscal heights. But will it be enough to drive the stock back above $600? We will find out in few hours.