Apple beats Wall Street predictions with record-breaking iPhone sales revenue

I keep telling people to not listen to the negative analysts. Three predicted disappointing iPhone sales this quarter, while two reported very good iPhone sales.

meanwhile, the stick went down $4.19during the day and is about $4.50 down after hours. I know the market is down today (Microsoft was down over $26, for example), but still

melgross said:

I keep telling people to not listen to the negative analysts. Three predicted disappointing iPhone sales this quarter, while two reported very good iPhone sales.

This is like any other judgment from a panel, you toss the high and low scores out and average out the rest. This isn't specific to financial analysts, they do this during figure skating at the Olympics, surfing contests, etc.

No one analyst is always right all the time so it's best to take the middle chunk. It's okay to lean one direction or another if you see a particularly reliable analyst on one side of the fence.

For a while, amateur analysts (bloggers) were beating the pros on a regular basis.

Many analysts are rated by Starmine which tracks their accuracy over time. Any longtime follower of Apple's business will remember some horrifically inaccurate analysts that many Apple media sites LOVED to quote (*cough* Munster *cough*). Some were so consistently wrong that it was easier to best on the opposite of their take. Some were longtime bears who always came up short (Katy Huberty at Morgan Stanley was like this for years before she finally came around and saw the light).

Since the start of the pandemic Apple stopped providing their own guidance so it has forced analysts to actually use their brains instead of just picking up the Magic 8-Ball.

The era of Apple routinely smashing expectations is over. Apple is more of a value stock rather than a growth stock here in 2024. It's not 2009 anymore.

As I've said for a very long time, AppleInsider (and other tech media sites) really need to track the accuracy of the analysts they quote. Market researchers like CIPR are mostly pulling their numbers out of a body orifice (I'll give you three guesses but you'll only need one).

Sales of the iPhone 15 were “stronger than 14 in the year-ago quarter, and 16 was stronger than 15,” Apple CEO Tim Cook told CNBC’s Steve Kovach.  

And once again, CIRP, Kuo and all the rest of the Apple naysayers who claim to have secret, proprietary knowledge about Apple sales GOT. IT. WRONG. Quelle surprise with these clueless clowns, so frequently headlined by AppleInsider. Turns out that looking at delivery wait times on Apple's website to predict how actual sales are doing is as stupid and unreliable as it sounds.  

Plus consider this: early iPhone 16 sales outpaced those of the 15 last year, and the 16 didn't even ship with its marquee feature, Apple Intelligence. Analysts who actually know what they're talking about foresee unprecedented sustained strength in iPhone 16 sales as more AI features continue to roll out, creating another wave of buzz every time they drop. But yeah, Apple is doomed. 

But...but... iPhone16 sales are "struggling"....   that's what they said.

mpantone said:

melgross said:

I keep telling people to not listen to the negative analysts. Three predicted disappointing iPhone sales this quarter, while two reported very good iPhone sales.

This is like any other judgment from a panel, you toss the high and low scores out and average out the rest. This isn't specific to financial analysts, they do this during figure skating at the Olympics, surfing contests, etc.

No one analyst is always right all the time so it's best to take the middle chunk. It's okay to lean one direction or another if you see a particularly reliable analyst on one side of the fence.

For a while, amateur analysts (bloggers) were beating the pros on a regular basis.

Many analysts are rated by Starmine which tracks their accuracy over time. Any longtime follower of Apple's business will remember some horrifically inaccurate analysts that many Apple media sites LOVED to quote (*cough* Munster *cough*). Some were so consistently wrong that it was easier to best on the opposite of their take. Some were longtime bears who always came up short (Katy Huberty at Morgan Stanley was like this for years before she finally came around and saw the light).

Since the start of the pandemic Apple stopped providing their own guidance so it has forced analysts to actually use their brains instead of just picking up the Magic 8-Ball.

The era of Apple routinely smashing expectations is over. Apple is more of a value stock rather than a growth stock here in 2024. It's not 2009 anymore.

As I've said for a very long time, AppleInsider (and other tech media sites) really need to track the accuracy of the analysts they quote. Market researchers like CIPR are mostly pulling their numbers out of a body orifice (I'll give you three guesses but you'll only need one).

I’ve been following that for a long time as well. I’ve seen a lot of things over my time, but Apple is pulled down by a few of the same people every year.