Piper Jaffray analyst Gene Munster on Monday issued a report in which he looked at NPD sales data for July and August suggesting that Apple is on course for 7.4 million iPods sold this quarter, before the benefit of the new models introduced last week is factored in. Given the availability of new iPods, Mr. Munster expects Apple to come closer to his estimate of 8.6 million units.
"Without a new iPod this quarter, we had expected slight downside to our estimate, as suggested by the first 2 months of NPD data," the analyst added.
He retained his "Outperform" rating on Appleis stock, with a US$99 price target. At 1:59 PM EST on Monday, the companyis shares were selling for $74.26, up 0.22% for the day.