Analysts Predict $6.05 Billion Quarter for Apple
Analysts Predict $6.05 Billion Quarter for Apple
by , 2:35 PM EDT, October 22nd, 2007
Thomson Financial surveyed financial analysts who are predicting a US$6.05B quarter for Apple, according to MarketWatch on Monday. The earnings are expected to be 85 cents/share. This compares to $4.84B in revenue and earnings of 62 cents/share for the same quarter a year ago. Apple will report their fiscal 4th quarter results today at 5:00 PM Eastern time.
Several analysts surveyed expected consensus or better results for Apple. Shaw Wu affirmed the consensus forecast, and noted "broad strength across product lines and an unseasonably favorable mix towards the high-end (product line)."
Mr. Wu said he expects sales of at least 2 million Macs to be reported. His target price for AAPL is now $185.Mike Abramsky of RBC Capital Markets agreed, but believes the Mac sales figure will be closer to 2.2 million Macs. His target price for AAPL is $205. Mr. Abramsky also stated his belief that Apple will report the sales of 1.3 million iPhone for the quarter.
Analyst Chris Whitmore with Deutsche Bank noted on October 1st that, after channel checks, the [September 5th] price cut for the iPhone has spurred even greater demand.
Shebly Seyrafi of Caris & Co raised his price target for AAPL to $200 on Monday. His number for projected iPhone sales was 1.4 million.
AAPL has surged 47 percent just since August. Briefly on Monday it was trading at an all-time high of US$174.90.
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.
In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.
Observer Comments
Now that you've heard from the "anal-ists," get the real info. These guys were falling all over each other raising their estimates in the last week or so, but they still got it wrong--REALLY wrong. Some resort to going to a few Apple stores and watching for a few hours to get "sales estimates." Even the organizations that track retail sales, like IDC, consistently get it wrong--always on the low side, because they do not count the Apple stores nor the online store. They'd be better off keeping their mouths shut--or, better idea: if they are more than 10% off in their projections, their pay is cut by 50%. If more than 15% off, the get only 10% of their salary. If off by 20%, they have to pay their employers. In reality, how much do you want to bet that these "analysts" get huge bonuses, even though they've been consistently wrong? They're no better than CEOs getting huge bonuses as companies go down the toilet.
Full disclosure: I do own some (not much) stock in AAPL.
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