Piper Jaffray estimates Apple Mac sales of up to 2.8 million units; maintains $250 price target

Monday, October 20, 2008 · 4:44 pm · 14 Comments

“With just one day to go before Apple announces the results of its fourth fiscal quarter, market research firm NPD is out with its preliminary sales data for the three-month period, leading one expert to suggest the company sold upwards of 2.8 million Macs systems,” Slash Lane reports for AppleInsider.

“‘We have analyzed NPD data for all 3 months of the September quarter (July, Aug & Sep) [and] it leads us to a Mac number of between 2.7 million and 2.8 million,’ Piper Jaffray analyst Gene Munster told clients in a report Monday afternoon,” Lane reports.

“The analyst said those figures suggest Mac sales grew anywhere from 25 percent to 29 percent during the quarter, inline to slightly ahead of Wall Street consensus estimates which have the Cupertino-based company selling approximately 2.7 million systems on 25 percent yearly growth,” Lane reports. “Specifically, Munster said NPD’s data suggest Mac sales grew 19 percent year-over-year in September, down from 23 percent in August, and about 43 percent in July.”

“Munster maintained his Buy rating and $250 price target on shares of Apple,” Lane reports.

More in the full article here.

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14 Comments

BillyBob@home

Monday, October 20, 2008 - 4:57 pm · Reply

Oh, we’ve heard this before, haven’t we?

Of course, a 250 price target will not be reached when the overall market is stressed.

I’m not biting.

Leaf

Monday, October 20, 2008 - 5:02 pm · Reply

All people seem to care is what the numbers are going to be in January, and currently with the economy, nobody really knows, even Apple. The stock will drop tomorrow and then gradually climb just ahead of everyone else as the whole market climbs over the next year or could be the next 5 years. Either way it will climb mid to longterm, so the idiots who sell tomorrow must have a different and short term agenda.

Viktor

Monday, October 20, 2008 - 5:02 pm · Reply

“Piper Jaffray analyst Gene Munster told clients “…

So, there is some people who actually hire those guys, is it? and we are receiving that information for free? how much do they pay for that kind of information?

Macaday

Monday, October 20, 2008 - 5:14 pm · Reply

great stuff – those Mac numbers will mean a headline of 10 million Macs sold in the year…

Go Apple.

critic

Monday, October 20, 2008 - 6:06 pm · Reply

What Gene isn’t saying is that his target is $250 by 2020.

Jim - TIV

Monday, October 20, 2008 - 6:12 pm · Reply

They keep their buy ratings going, announce them RIGHT BEFORE an Apple event, then sell like crazy once the event is here.

Monday, October 20, 2008 - 6:50 pm · Reply

The announced sales results will be wonderful. Of course, these same a–holes at Wall Street that left Wall Street almost go under,
will concentrate on projections for the next quarter. Apple’s future looks bright, even though it will have to suffer through a tough economy, like every one else. Fortunately this won’t stop Apple from continuing to innovate, so when times get better, Apple will be poised to take advantage of the conditions.

Market Maker

Monday, October 20, 2008 - 7:55 pm · Reply

“They keep their buy ratings going, announce them RIGHT BEFORE an Apple event,”

Piper Jaffray is one of market maker in Apple. Often when you sell Apple shares, they buy them. Similarly when you buy Apple shares, they sell them. Essentially thay act as a middle man for Apple shares sales. All Gene Munster cares is that you’re either buying or selling Apple, hopefully both, many times a year.

Poo

Monday, October 20, 2008 - 8:19 pm · Reply

Well I for one sold today, so I can buy back tomorrow at even further bargain basement prices.

Head in the sand

Monday, October 20, 2008 - 8:25 pm · Reply

Wasn’t apple going to start to report the $10.00 per month revenue for each phone?….coming from the AT&T;subscriptions?….Perhaps the analysts forgot this?

Chuck

Monday, October 20, 2008 - 8:29 pm · Reply

Like Warren Buffet says today in NY Times, it is time to buy stocks. I am buying more Apple, it is going to grow faster than shame on McCain, I betcha.

chaz

Monday, October 20, 2008 - 8:57 pm · Reply

If the above is true, I expect Apple stock to get hammered tomorrow, based on it’s conservative forecast, slowing growth multiple over PC box assemblers and Apple.

I dearly wish Jobs would sign up a few economy priced manufacturers, heck he could consign them to territories, such as India and China! Come on Steve, you have to play in at least the top 50% of the market. Consigning to the top 20% makes Apple very very vulnerable.

Macromancer

Monday, October 20, 2008 - 9:14 pm · Reply

“Of course, a 250 price target will not be reached when the overall market is stressed.”

If you think you’re going to make any money in the market or on AAPL specifically in the next 12 months, you’re right, but the market isn’t going to be stressed forever, and you really need to look at AAPL for a 2-5 year period minimum.

In 5 years you could be thinking back to this thinking wow that correction was a great buying opportunity.

I’m accumulating shares over time. This company has a LOT of room to grow.

Grrrilla

Tuesday, October 21, 2008 - 8:56 am · Reply

@Chaz:

What makes you think Apple’s manufacturers aren’t already economy-priced? Look at the materials and build quality of their products and it’s clear that its the product that is expensive, not the labor.

Besides, Apple doesn’t make products to entice more people to pay, they make products to entice people to pay more. And it works damn well for them (if not for the stock-holders). I’m happy to pay the premium when I appreciate what I receive for it.