Apple’s spending plans suggest that it expects to blow past most analysts’ revenue projections for the December quarter, according to a new note from Morgan Stanley.
Apple’s last quarterly report revealed $29.5 billion in off balance-sheet commitments, and $7.3 billion in other commitments, at the end of the September quarter.
These usually represent money that Apple is planning to spend on parts and manufacturing equipment, so analysts can use these numbers to estimate how much Apple is expecting in sales.
Using that method, Morgan Stanley believes that Apple is expecting $84.4 billion in revenue for the December quarter, 9% higher than current analysts’ consensus. Apple has beat consensus by 1% in the last two quarters, and by 3% on average since 2013.
