Analyst: 2Q iPod Sales Between 10 and 11M Units
Analyst: 2Q iPod Sales Between 10 and 11M Units
by , 12:40 PM EDT, March 28th, 2007
Piper Jaffray analyst Gene Munster expects Apple will report 10.3 million iPods sold for the quarter, below Wall Street's estimate of 10.9 million. Earlier in the quarter, he was predicting Apple would sell between 11 and 12 million units.
Mr. Munster lowered his estimate after reviewing NPD sales data for January and February, and then extrapolating March sales based on historical averages. Despite anticipating that Apple will report lower than expected iPod sales, he feels Apple is maintaining its 70 percent market share for portable digital media players.
"While iPod units fell slightly month over month in February, this downtick was in line with the overall MP3 player market," he said. "iPod market share was unchanged from January to February at about 70 percent."
Mr. Munster is maintaining his "Outperform" rating and target price of US$124 for Apple stock. Apple is currently trading at $94.78, down 0.68 (0.71%).
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.
Observer Comments
Wed Mar 28, 2007 3:18 pm Subject: Not accountable
The simple thing is that analysts are not held accountable for their predictions. Is there some organization that chalks up their predictions and compares them to the real world and gives them a grade?
Some years ago, Wall Street Week on PBS asked its panel members at New Year's to predict the market and pick stocks. The next year, their predictions were compared with what really happened. Few got it right or even close. These were supposedly smart people (at least, they were highly paid), all working with the same information, yet their predictions didn't vary just slightly, but were all over the place. Some would predict massive growth, others a downturn or minor crash. It was hilarious.
Why are they so highly paid if their performance is so terrible? It may be that their employers don't care if they're right as long as they make predictions that will generate transactions. Remember what the Duke brothers (Ralph Bellamy and Don Ameche) say to Billy Ray (Eddie Murphy) in Trading Places (paraphrasing from memory), "If the price goes up, we make money. If the price goes down, we make money." Good racket, isn't it?
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