How Wall Street and Apple’s Supply Chain Fooled Us Again

Let me start by saying this is not Apple’s (AAPL) fault. Unfortunately for them, they have a supply chain of many large and small companies including Skyworks (SWKS), Cirrus Logic (CRUS), and even Corning (GLW). Not to mention the large subcontractors in Asia that put iPhones together. Add to that the carriers like AT&T (T) and Verizon (VZ), and there are a ton of data points that foreshadow earnings. The question is should you be impressed by the results? And don’t forget, Apple had dropped 10% in a straight line from April 18th until they reported two nights ago. How about the guide for June? Again, back in January, June estimates were $2.32. Then they fell to $2.21 after the December call and were sitting at $2.13 pre-call this week. Now the street revised them “up” to $2.15.