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Caris & Co. Ups Estimate for Apple's FY Q2

Caris & Co. Ups Estimate for Apple's FY Q2

by , 3:55 PM EDT, April 18th, 2008

Shebly Seyrafi with Caris & Co has said that Apple is likely to beast expectations in its fiscal year second quarter report, according to Barron's on Friday. If so, that would parallel recent good results from Google and Intel.

Mr. Seyrafi sees Apple, driven by strong Mac shipments and better than expected gross margins, reporting revenue of US$7.04B, up from $6.93B. Earnings per share (EPS) looks like $1.12 compared to the consensus $1.06.

Apple previously provided guidance of $6.8B and $0.94 EPS.

The analyst is expecting 9 million iPods to have been shipped, 2.14 million Macs and 2 million iPhones.

On April 11th, Bernstein Research analyst Toni Sacconaghi predicted 10.2 million iPods, 2.08 million Macs, 1.45 million iPhones, and revenue of US$6.99B.

Mr. Seyrafi is maintaining an Above Average rating for AAPL and a target price of US$170. In afternoon trading, AAPL broke $160, hitting 160.54, up $6.05 for the day.

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.

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