VodkaPundit

Apple Profit Preview

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Apple reports last quarter’s profits at market close today, but Fortune says the company will surpass even the most optimistic forecasts:

Apple told Wall Street to expect total sales somewhere in the range of $63.5 to $66.5 billion — representing, at the midpoint, 15% growth from fiscal Q1 2014.

Analysts aren’t buying it. They saw the lines for the new iPhones. They’ve seen IDC’s Mac numbers. They know iPad sales haven’t totally died. They watched Apple shift production to meet demand for the larger — and higher margin — iPhone 6 Plus.

They’re expecting a big quarter.

The consensus among the analysts Fortune polled — 20 professionals and 15 amateurs — is that Apple’s total sales for fiscal Q1 2015 will come in at about $68.3 billion, up 21% year over year.

Apple is certain, once again, to garner the biggest quarterly profits in corporate history.

At some point, the Law of Large Numbers will put the bite on Apple’s growth, but clearly that point has yet to be reached.