Wit SoundView has lowered estimates for Appleis fiscal 3rd quarter which ends in June, and said that there is moderate risk that the company will miss their Q2 estimates. Apple reports on Q2 on April 18th. So far, Apple is the only company to have not lowered estimates for the just completed quarter during the quarter itself. According to Wit SoundView analyst Mark Specker:
With the further weakness in consumer PC demand in March, we see moderate risk that Apple Computer will fall short of its heavily sought goal of a "slight profit" in the March quarter and see high risk that Apple will fall short of consensus estimates for the June quarter. We are maintaining our Street-low March quarter estimates and lowering our revenue estimates for the June and September quarters to reflect this weak environment. Despite the weakness in consumer PC demand and the recent outperformance of AAPL shares, we still believe that the companyis valuation is quite compelling and that the company is well positioned to benefit when consumer demand does improve. We maintain our buy rating.
You can find more of Wit SoundViewis coverage of Apple at their Web site. Appleis stock closed lower at 20.59, down 0.28 (-1.34%). We will have our full Apple Stock Watch report later this afternoon. For other stories regarding Appleis stock activity, visit our updated Apple Stock Watch Special Report. You can also check out our Apple Financial Boards, a new moderated forum for Apple Investors and people who are interested in Appleis financial dealings.