More on Apple's phony guidance

All right, let's look at what Apple made and then what they said in July about their next quarter's earnings:

 The Company posted revenue of $8.34 billion and a net quarterly profit of $1.23 billion, or $1.35 per diluted share. 

“Looking ahead to the fourth fiscal quarter of 2009, we expect revenue in the range of about $8.7 billion to $8.9 billion and we expect diluted earnings per share in the range of about $1.18 to $1.23.”

And then, what they made today, and what they said about next quarter's earnings:

Apple® today announced financial results for its fiscal 2009 fourth quarter ended September 26, 2009. The Company posted revenue of $9.87 billion and a net quarterly profit of $1.67 billion, or $1.82 per diluted share.

Looking ahead to the first fiscal quarter of 2010, we expect revenue in the range of about $11.3 billion to $11.6 billion and we expect diluted earnings per share in the range of about $1.70 to $1.78.”

And you can read the history of Apple's phony guidance, here, or here--because even Wall Street needs a prediction they can make!

Apple's earnings need to go even higher, because they have such a giant honeypot in their subscription accounting that needs to flow thru on GAAP earnings.

Apple made over $3 for this quarter on GAAP, and $1.82 with their phony subscription accounting, yet they touted earnings estimates for this quarter of just $1.18-$1.23!!

Hell, the honeypot is so huge, that soon, even the WSJ may recognize it!!!

They are now sandbagging earnings by 50%, and sandbagging GAAP numbers 50% than their reported numbers!!
 BOO YAH BEARS!!!!

How do you like that????

Oh that's right--I forgot.

You bears are Pooh Bears now!!!!!

As advertised!!!!!