AppleInsider, a popular Apple rumor destination, is reporting that new accounting rules and the power of the iPhone will make for a shock earnings announcement on October 19th. Wall Street had better brace themselves.
Quote from the AI article:
“Last week, the Financial Accounting Standards Board approved a change to the revenue reporting methods in the generally accepted accounting principles (GAAP). Under the old rules, Apple was required to spread its profits from the sale of each iPhone over the term of the carrier
