Analysts Predict $6.05 Billion Quarter for Apple
October 21st, 2007 at 3:00 PM - Apple Stock Watch by John Martellaro
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.
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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.
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