Piper Jaffray reduces December quarter iPod estimate
Investment bank Piper Jaffray on Tuesday reduced its fiscal first quarter iPod sales estimate for Apple Inc. by approximately 2 million units in light of preliminary sales data that suggests December month sales fell slightly short of expectations.
"We have analyzed all three months of NPD data (Oct., Nov. & Dec.) for the quarter and found that it now suggests iPod units of 24 million to 25 million," analyst Gene Munster wrote in research note to clients.
He now estimates the Cupertino-based firm to announce sales of approximately 23.5 million iPods as part of its fiscal first quarter earnings report later Tuesday, which is below both Street consensus estimates of 24.7 million and his previous estimate of between 25 million and 26 million.
"We see this as a neutral data point," Munster wrote. "Bottom line: we continue to expect Apple to report a strong December quarter driven by in-line iPod results and outperformance in the Mac segment.
The analyst made no other changes to his model, maintaining a Buy rating and $250 price target on shares of the electronics company.
"We have analyzed all three months of NPD data (Oct., Nov. & Dec.) for the quarter and found that it now suggests iPod units of 24 million to 25 million," analyst Gene Munster wrote in research note to clients.
He now estimates the Cupertino-based firm to announce sales of approximately 23.5 million iPods as part of its fiscal first quarter earnings report later Tuesday, which is below both Street consensus estimates of 24.7 million and his previous estimate of between 25 million and 26 million.
"We see this as a neutral data point," Munster wrote. "Bottom line: we continue to expect Apple to report a strong December quarter driven by in-line iPod results and outperformance in the Mac segment.
The analyst made no other changes to his model, maintaining a Buy rating and $250 price target on shares of the electronics company.
Comments
The analyst made no other changes to his model, maintaining a Buy rating and $250 price target on shares of the electronics company.
[ View this article at AppleInsider.com ]
Well, it is nice to see some confidence!
When I saw the headline I thought they were going to use this as an excuse to lower expectations in light of recent general market conditions...
Well, it is nice to see some confidence!
When I saw the headline I thought they were going to use this as an excuse to lower expectations in light of recent general market conditions...
AAPL as low as $147 today makes a $250 price target look preposterous. Plus, you don't want to change price targets on the day of release of earnings.
AAPL as low as $147 today makes a $250 price target look preposterous. Plus, you don't want to change price targets on the day of release of earnings.
$250 for AAPL would have been achievable were we not in an economy where the 'chickens' of a trillion dollar war deficit and upward distribution of income were rushing home to roost.
Hang on to your butts folks.
That's the only way the stock will bounce back much.
Hell I'd just like to see it around $200.00 again.
Skip
When today, is the conference on Apples financials?
After market close, I thought...
$250 for AAPL would have been achievable were we not in an economy where the 'chickens' of a trillion dollar war deficit and upward distribution of income were rushing home to roost.
$250 is still achievable. Don't believe the 'chickens' (Little) who are crying the sky is falling today. Anybody who got out of AAPL in the 140's or 150's is going to be crying when it does hit $250 in the next 12 months.
$250 is still achievable. Don't believe the 'chickens' (Little) who are crying the sky is falling today. Anybody who got out of AAPL in the 140's or 150's is going to be crying when it does hit $250 in the next 12 months.
Oh, I'm hanging on, to AAPL, as well as my butt.
Last thing you do is sell on a dip, particularly if you're in for the long haul.
As to Chicken Little syndrome, time will tell who's right. AAPL happens to be the best orchestra on the Titanic.
We're not at the bottom yet by a long shot.
I tried a quick Google search, but could find what Apple had estimated at the beginning of the quarter. Anybody know?
When today, is the conference on Apples financials?
Here is a more complete (less equivocal answer), from the following article by AI
link here
Apple will report earnings from its fiscal first quarter ended December following today's closing bell.
$250 for AAPL would have been achievable were we not in an economy where the 'chickens' of a trillion dollar war deficit and upward distribution of income were rushing home to roost.
Hang on to your butts folks.
I think $200 is a more realistic target, but not soon.
By my guess, that has Apple back at $200 in the spring.
Unfortunately, since Apple guides conservatively, they might keep their number a bit lower to make sure they hit it.
The economy has plenty of problems right now, but the Apple stores still seem to keep generating a buzz. We'll have a better idea in a few hours...
$250 for AAPL would have been achievable were we not in an economy where the 'chickens' of a trillion dollar war deficit and upward distribution of income were rushing home to roost.
Hang on to your butts folks.
Good call. I can't wait to hear Bush's state of the union speech.
... hanging on, to ... my butt. ...... in for the long haul.
.... Chicken Little ....time will tell .... the best orchestra on the Titanic.... by a long shot.
Love that patois!