Trading Apple's earnings
Apple Inc. had an uncharacteristic miss in its last report on Oct. 18, 2011, but before that the company had beaten analyst estimates every quarter since 2004
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Apple Inc. had an uncharacteristic miss in its last report on Oct. 18, 2011, but before that the company had beaten analyst estimates every quarter since 2004.
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Apple kicks off fiscal 2012 with first-quarter results after Tuesday’s close, with consensus estimates calling for earnings per share of US$10.12, equating to 57% growth versus one year ago.
Traders react positively to Apple’s report 70% of the time, driving the stock higher an average of 2.4% from the close, to 8 a.m. the following morning, according to Kevin Pleines of Birinyi Associates.
Regardless of whether the stock is higher or lower after the report, however, the next day from the open to the close, Apple trades lower 67% of the time for an average loss of 0.5%.
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