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23 Apr 2013
Forex Flash: Apple earnings capture focus – Deutsche Bank
FXstreet.com (Barcelona) - The main afternoon event for macro watchers today is the March quarter results for Apple. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “Tech earnings have disappointed so far this reporting season particularly on the revenue side. Add to this the fact that Apple's share price has shed 25% in the year-to-date, and it's fair to say that markets are bracing for a reasonably poor quarter from the S&P500 heavyweight.”
Indeed, Street EPS estimates for the March quarter have declined about 20% in recent months according to Bloomberg data. As it currently stands, the Street's is anticipating Apple to report EPS and sales of $9.97 of $42.3bn respectively for the March quarter. Aside from Apple we have around 36 other S&P500 companies reporting as we approach the peak days for earnings season later this week.
Indeed, Street EPS estimates for the March quarter have declined about 20% in recent months according to Bloomberg data. As it currently stands, the Street's is anticipating Apple to report EPS and sales of $9.97 of $42.3bn respectively for the March quarter. Aside from Apple we have around 36 other S&P500 companies reporting as we approach the peak days for earnings season later this week.