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Bailey is looking for Fiscal Year Quarter Two revenues of US$8 billion, which is at the upper end of the companyâ€™s guidance range of $7.6 billion to $8 billion. That would be down 21 percent sequentially, but up six percent year-over-year.
Bailey has upped his EPS (earnings per share) estimate for the quarter to $1.07 from $1. That puts him a penny below the Street consensus of $1.08, notes Barron's. Appleâ€™s guidance had been for 90 cents to $1.