For several years, Apple would report low guidance each quarter and then knock those numbers out of the park the following quarter.
But recently, Apple said it would start offering guidance numbers that were more realistic to what it planned to achieve. As a result, it seems like Apple hasn't blown away expectations in its earnings reports like it used to.
This has been hurting perceptions of Apple every time it's reported earnings over the last few quarters. It hasn't been able to crush Wall Street's expectations like it used to, simply because its reporting more realistic guidance numbers.
As you can see in the chart below, the gap between Apple's guidance and actual reported revenue has narrowed over the last several quarters to the point that they're nearly equal.
Apple reports earnings tomorrow, June 23, so we'll get an even better sense how close it got to its guidance for the most recent quarter.
