Once again, bloggers outperform the analysts on AAPL

Apple announced another great financial quarter yesterday: $3.07 ba-ba-ba-billion of profit on sales of 8.75 million iPhones, 10.89 million iPods, and 2.94 million Macs for the best non-holiday quarter ever. And who came closest to predicting this blowout? Professional analysts who are paid handsome salaries to advise investors? Nope. Bloggers.

CNN lays it out:

There’s almost nothing good to say about the estimates published by professional analysts in advance of Apple’s (AAPL) second quarter earnings. Not only did the pros badly underestimate almost every aspect of the company’s business—from revenue and earnings to unit sales—but they were bested in every category by a rag-tag group of bloggers, day traders and armchair analysts.

The best of the bunch was Financial Alchemist’s Turley Muller who not only came closer than pro analysts, but has done it an astonishing six quarters in a row. Even worse, bloggers and other non-pros consistently bested “the Street” in their accuracy. In all fairness, though, Apple’s guidance was well below the their actual results. CNN closes with their own analysis:

In defense of the professionals, they are paid to cover a range of tech companies, not just Apple. The amateurs, as group, tend to be investor-enthusiasts who concentrate only on their favorite stock.

But still.

Read [CNN Money].