The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Analyst Warns of Limited Upside for Apple's Quarterly Numbers

TMO Reports - Analyst Warns of Limited Upside for Apple's Quarterly Numbers

by , 1:15 PM EDT, April 13th, 2005

Apple's upside for the March quarter is limited, according to a Wall Street analyst. In a research note to clients obtained by The Mac Observer, Banc of America Securities analyst Keith Bachman warned clients that Apple's upside is no more than 24-25 cents per share in earnings, which is two to three cents per share higher than consensus estimates, and four to five cents per share higher than Banc of America's estimates of 20 cents per share.

"For March, we are looking for US$3.0 billion in revenues (versus consensus of $3.2 billion), and EPS of $0.22 (versus consensus of $0.24), which is based on 4.6 million iPods," he wrote. "Using a different set of assumptions, including iPod units of 5.7 million, we believe that Apple could deliver EPS upside of $0.04 to $0.05 higher than our published estimate. We believe that investors looking for more potential upside than this will be disappointed."

Mr. Bachman maintained a Buy rating on AAPL, based in part on strong growth in the online music download business, though he believes Apple will lose market share going forward.

Apple's shares tumbled more than 3% in morning trading, and are currently trading down by a dollar per share in heavy volume.

Apple will announce results for the March quarter, the company's fiscal 2nd quarter, today, April 13th, 2005, after the markets close. The Mac Observer will cover the results as soon as they hit the wires.

*In the interest of full disclosure, the author holds a small share in APPL stock that was not an influence in the creation of this article.  


If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent Headlines - Updated September 15th

Sun,5:49 PM
Detroit Slow Roller Jason Hall Talks about Apple and iPad (Video)
11:51 AM
MGG 519: Aspect Ratios Are Fun & AT&T Next is Probably Better For You
Sat,4:40 PM
5 Tips for Making Better Slide Show Presentations
3:37 PM
Last Chance for Limefuel Lite USB Battery Pack for Dual Charging: $34.99
Fri,8:25 PM
Analyst: iPhone 6 Rocky Launch Hints at Big Money for Apple
8:10 PM
Apple Says iPhone 6 Pre-orders Hit Record Numbers
7:45 PM
Chuck La Tournous, Ted Landau and more talk AppleAannouncements on The MacJury
6:27 PM
AT&T Supporting Wi-Fi Calling Eventually
4:10 PM
Walmart to Apple: No Mobile Payments for You
3:50 PM
Apple’s Success: Going to Extremes and Out of Control
1:22 PM
TMO Daily Observations: 2014-09-12
11:34 AM
iPhone 6 Plus Pre-orders Sell Out, iPhone 6 Still Available
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!