After A Rare Miss, Apple Predicts Record iPhone, iPad Sales And Hints At A $40 Billion Quarter

Yes, Apple missed with their earnings today. It's the first time in a long time that has happened. Some are suggesting that hasn't happened since 2002. That's big news. But it's also masking even bigger news: Apple's expectations for next quarter. In a press release, it can be hard to tell what numbers on a page signify. But those who follow Apple closely must have taken one look at Apple's guidance for next quarter and had their jaws drop. I know mine did. Apple is projecting to make $37 billion in revenue next quarter, their holiday quarter. They're projecting an EPS of $9.30. Both are insane (in a good way). To put this in some perspective, Apple has never had a quarter over $30 billion in revenue. The closest they've come was last quarter, when revenue hit $28.57 billion (this past quarter was their second best ever). A year ago during the holiday quarter, Apple did $26.7 billion in revenue. They're projecting these numbers to be $10 billion higher.

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