Philip Elmer-DeWitt, for CNN Money:
The cluster of green at the bottom of the chart at right tells the story: This quarter, for the first time since we’ve been monitoring them, the bloggers got clobbered.
And not just by a little. The average miss in the categories that matter most — revenue and earnings per share — was 5.8% for the institutional analysts and a humiliating 23.5% for the independents.
Elmer-DeWitt’s running analysis of the accuracy of analysts is always an interesting piece to read after an Apple announcement. Two different graphs will give you a sense of which analysts were closer to Apple’s actual results. It’s worth poring over to help get a better sense of who to pay attention to next time.
Good thing we actually hold the bloggers accountable for their misses…
Actually, I’m very much looking forward to the Asymco write-up going through the predictions and pointing out where the errors came from and how he expects to apply any corrections to his model.
Try getting something like that out of a “pro”.
Six months ago, AAPL was selling near $320 per share. Three months later, investors were paying near $360 per share.
These days, AAPL is a $400 a share stock.
Apple Inc’s revenue and earnings past quarters has been and continues to be extremely strong.
Overall, the prices investors are willing to pay for AAPL shares continue to grow.
Great investment.