According to The Wall Street Journal, the analysts have finally shaken a little bit of the stupid out of their Q4 estimates for Apple:
Investors have grown accustomed to Apple crushing Wall Street estimates, so there are strong expectations for the company’s fiscal fourth-quarter, which ended September. Nearly 20 analysts have lifted price targets since September.
Analysts finally stopped notching their estimates at an average of $9.2 billion revenue and a profit of $1.42 a share. So I guess the days of Apple catching analysts with their pants down are over, right?
This afternoon, Apple reported Q4 revenue of $9.87 billion and a net quarterly profit of $1.67 billion, or $1.82 per diluted share, destroying every estimate on the Street. You can take your pick of summaries, but Apple Investor News is a nice aggregator.
Apple must still be exploiting that lull in anticipation of Windows 7.