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: Apple June Quarter to be Above Expectations

Analyst: Apple June Quarter to be Above Expectations

by , 9:10 AM EDT, July 16th, 2007

Piper Jaffray analyst Gene Munster thinks Apple may have a pleasant surprise in store for investors when it reports its quarterly earnings for June. He is predicting that Apple will report revenue above Wall Street's US$5.3 billion estimate.

The Wall Street consensus is that Apple will report it sold 332,000 iPhones for the quarter, but Mr. Munster expects the company will beat expectations there, too. "We have modeled for 200,000 iPhone shipments in the June quarter and the Street is modeled at about 330,000, but we believe Apple may have sold as many as 500,000 in the first weekend," he said.

Not surprisingly, analysts are expected to focus on the iPhone -- Apple's combination iPod and smartphone -- during the company's financial conference call on July 25. Although iPhone interest will be high, the real money makers for the quarter will likely be the Macintosh and the iPod. Even if Apple sold 500,000 iPhones in the first weekend, it would add only $12 million to the company's revenue.

Mr. Munster is predicting that Apple will report more than 1.6 million Macs sold for the quarter, coming in above Wall Street estimates. iPod sales may beat expectations as well, coming in at 10 million instead of the Street's expectation of 9.87 million.

Looking forward, Mr. Munster expects Apple will offer its usual conservative guidance for the September quarter. "Apple typically guides conservatively and we believe the company will guide in line, at best, with consensus for the September quarter of $0.83 EPS on $6.0 billion" in revenue.

Mr. Munster is maintaining his "Outperform" rating and $160 target price for Apple's stock. Apple is currently trading in the pre-market at $138.40, up 0.67 (0.49%).


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.

  


Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108

Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/extension.inc' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 108

Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110

Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/common.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 110

Warning: include(/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.) [function.include]: failed to open stream: No such file or directory in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112

Warning: include() [function.include]: Failed opening '/usr/local/etc/httpd/sites/macobserver.com/htdocs/forums/includes/bbcode.' for inclusion (include_path='.:/usr/share/php5:/usr/share/php') in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 112

Fatal error: Call to a member function sql_query() on a non-object in /var/www/bbm/macobserver.com/ee2/www/htdocs/comments/comments.php on line 532

Recent Headlines - Updated May 24th

Fri, 11:29 AM
Analysis - Apple Ads Stay Positive Despite Microsoft’s Negative Campaign
10:18 AM
News - AT&T Hits Customers with a New Administrative Fee
9:22 AM
News - Google, Facebook May be Facing Waze Bidding War
6:22 AM
TMO Quick Tip - Terminal: Using “lsof” When Files Won’t Delete
Thu, 9:31 PM
News - Judge Cote Likely to Side with U.S. Against Apple
7:02 PM
Editorial - Microsoft Commercials Take Swipes at Apple’s iPad
5:59 PM
Product News - Apple Updates Fuji-Xerox Printing & Scanning Drivers
4:57 PM
Reuters Traces Apple’s Irish Operations Back to 1980
2:01 PM
News - Apple Reportedly Plans WWDC Keynote for Monday, June 10th
1:15 PM
Rumor - Analyst: iWatch Coming in 2014 with Biometrics
11:30 AM
Editorial - Pondering Those Who Dis Apple’s CEO Tim Cook [VIDEO]
10:37 AM
Mailbox, Now with iPad Support

The Mac Observer Reader Specials

  • Support TMO, Buy from Amazon, MacMall and The Apple Store

  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!