Apple price target boosted, Mac sales forecast raised, iPhone build plans expected to increase
Shares of Apple Inc. (AAPL/NASD) may be near an all-time high, but Citigroup analyst Richard Gardner says he is a buyer nonetheless. He boosted his price target from US$160 to US$185, along with higher earnings estimates for both 2008 and 2009.
Checks from the supply chain and data from market researcher NPD Group suggest significant upside to consensus computer sales estimates for Apple in the fourth quarter, Mr. Gardner said in a note to clients. His September quarter PC unit sales forecast moves up to 2.17 million, from 2.0 million previously, due to stronger-than-expected iMac demand after Apple unveiled new products in August.
In terms of the iPhone, Mr. Gardner says recent checks show that building plans for the smart phone suggest 3.8 to 4.0 million units will be “very attainable” in calendar 2007. Given the recent iPhone price cut from US$599 to US$399, he expects the next build plan revisions will be upward.
Mr. Gardner also considers the October launch of Apple’s Leopard operating system, the November 9 launch of the iPhone in Europe and the launch of a 3G iPhone in the first half of calendar 2008, all as important product catalysts.
Get a Free iPhone! Yes, that is correct! Stay away from the hassles of earning enough to pay for it for you can get it the simple way .... straight to your doorstep! Free! Interested? Then find out how to get a Free iPhone!
Labels: apple, financial post, free iphone, free ipod touch, iphone
0 Comments:
Post a Comment
<< Home