Filed under: Analysis / Opinion, Apple Financial
Apple expected to beat the Street in September quarter
We recently reported on Piper Jaffray analyst Gene Munster's expectations of phenomenal iPhone sales over the next year, and now he's back with more happy Apple news!As reported on Macsimum News, Munster looked at preliminary July sales results from NPD Group, did some extrapolation, and came up with numbers showing that both iPod and Mac sales could beat Wall Street's expectations for the quarter ending September 30, 2008.
Munster's prognostications show Apple selling 2.7 - 2.9 million Macs, which is up 28% year-over-year from the same period in 2007 and beating Wall Street's expectations of 2.65 million units. He also expects iPod sales to hit 10.7 - 11.2 million units, which is slightly above Wall Street's 10.8 million unit guesstimate on the high end.
If Apple happens to hit the high end of these estimates (2.9 million Macs, 11.2 million iPods, 4.1 million iPhones, and a 32% gross margin), Munster calculates that Apple could post earnings per share in the range of $1.19, much better than the Street estimate of $1.11.
TUAW will definitely be following this monster news during the earnings call in October.
[via Macsimum News]
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Reader Comments (Page 1 of 1)
Pat said 9:47AM on 8-26-2008
So now that Apple is expected to beat the street, if they only slightly beat the street, is their stock price going to take a nose dive?
Reply
mabhatter said 11:57AM on 8-26-2008
Apple's stock will go up and up until the actual publishing of the info, then it will "crash" 10-20%. After all, the street doesn't care about how much profit you made this quarter, once it's in their pockets. All they know is you probably won't do it again so sell, sell, sell! Great "bosses" eh.
My Ipod beats your computer said 11:03AM on 8-26-2008
yeah man apple rocks :)
Reply
Jeff said 5:46PM on 8-26-2008
This is a no brainer for multiple reason.
1. Apple always guides low.
2. Apple always beets the street.
3. Apple forecast reduced margin due to new products (Haven't seen any have you). and QTR is almost over.
And yes the stock will drop on the good news.
Reply