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http://www.insanely-great.com/news.php?id=1522
Apple Financials May Signal End of Tech Drought
By Remy Davison, Insanely Great Mac
January 13th 2003
Cupertino's revenues will give an idea of consumer confidence, while other tech
financials this week will indicate the health of the business sector.
Apple will announce its Q1 2003 financial results Wednesday after markets close, with
analysts expecting a slight improvement on Q4 2002
Wall Street estimates Apple will post results of around $0.03 per share, according to
First Call estimates published by Reuters. This compares with $0.02 per share in Q4
'02. In the year-ago quarter, Apple posted results of $0.11 per share.
Tech heavyweights IBM, Microsoft and Sun will also report financials this week. Their
results are likely to give a clearer insight into whether consumer and business
spending are trending upwards, or treading water. A poor or mediocre set of results is
likely to have Wall Street pushing tech stocks well down.
Unusually, Apple did not report its Q1 financials prior to MWSF last week. As a
result, markets have awaited the earnings statement, rather than taking a risk on
Jobs' hardware, software and retail store announcements of last week.
Appearing on CNBC last week after his MWSF keynote, Jobs said that Apple had had a
good Xmas season.
Apple was trading at $14.74 at close of business Monday.
Analysis: What will really interest us is the break-down of model sales Fred Anderson
usually delivers at his conference calls. Jobs' 'year of the notebook' may be the
result of the realization that iBook has shored up Apple sales and revenue in the last
few quarters, without which the bottom line would have looked fairly grim. It'll also
be interesting to see how much impact the revved PowerBook G4s had during the Xmas
season.
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