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Apple misses Q4 numbers but guidance strong

Apple just reported its fiscal Q4 numbers and missed analyst expectations for the first time in many years. Q4 revenue came in at USD 28.3bn, compared with expectations of USD 29.7bn and reported EPS of USD 7.05 was below expectations of USD 7.39 per share.

The main reason for the miss was disappointing iPhone sales with 17.1 million units sold, versus consensus of 19 – 20 million units. iPad sales were in-line at 11.1 million units sold.

Boosted by the strong sales start of the new iPhone 4S, Apple is, however, guiding for a strong X-mas quarter projecting revenues of USD 37bn and an EPS of USD 9.30. This compares to analyst expecations of USD 36.6bn and USD 8.98 respectively. This is all the more encouraging as Apple usually guides rather conservatively.

All in all, I’d say no major news for our top-pick G5 Entertainment. Primarily the strong sales start of the iPhone 4S is very promising and bodes well for future app-sales. If we are lucky, Apple will soon add the iPad 3 to its line-up.

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