“Noted AAPL bull Gene Munster has softened his outlook for the company through the first half of 2013, though he expects that Apple will rebound and return to growth to close out the year,” Neil Hughes reports for AppleInsider.
“The Piper Jaffray analyst issued a note to investors on Tuesday in which he reiterated his overweight rating and $767 price target, but said he expects Apple to see earnings dip 14 percent in the first half of 2013.,” Hughes reports. “For the back half of the year, he expects Apple to have several new product launches in the works. He believes those announcements will reaccelerate earnings growth to a positive 15 percent.”
Hughes reports, “He also believes that Apple will announce a television set in the December quarter this year, and will also introduce a smart watch at some point in the future.”
Read more in the full article here.
MacDailyNews Take: Ah, Apple’s television set. Will this be the year Gene’s finally right?
Every now and then, even a blind hog will find an acorn….
Actually, that is an unfair comparison…to blind hogs.
These guys amaze me.
Apple finally fixes its supply chain problems in the first calendar quarter of this year so that for all the major systems they are finally meeting demand a compared to either outright unavailable (or even not orderable) products or those with up to four or more week lead times — and this guy thinks profits will go down? Every product line — except for the peripherals, Apple TV and Mac Pro lines — had significant availability problems in the fourth calendar quarter of 2012. With all that now, *finally*, fixed he really expects earnings to go down?
Note he did not say “growth rate” will go down. He did not say “margins” will go down. He flat out said actual, overall *earnings* will go down!
Apple will not make a television set. They will revolutionize the TV industry however but it will be a service more like Netflix with a great interface and selection.
Another analyst today was downgrading Apple because no one would buy the iPhone 5 with the 5S on the horizon.
he obviously doesn’t understand how the pent up demand for people who like using Tmo…. and expansion into China/India will affect Apple’s bottom line…
but in any case… its a good thing for swing traders… a surprise call will turn AAPL the other way
These people know no more than we do.
If Apple is in deep doo-doo, I sure hate to see how the other hardware companies are faring in this economy. Although Apple is always the first company to be declared doomed, I’m certain other hardware companies must certainly be having a hard time with sales. I doubt Apple would have fallen off a cliff all by itself.
It could get worse. I know a couple of people working for the government who have been furloughed a day each week until September 2013. That amounts to a 20% pay cut. No Apple products for them, I fear. I guess I should just happily accept my Apple dividends and not say a word.
I thought I recently heard the great recession was over.
Attaboy, Mr. Cook. Keep this up for another quarter or two and we’ll be rid of you and the future can begin to unfold. In the meantime my advice for holders of AAPL: don’t check the price. It will ruin your day and probably more.
For all the MDN blind followers of all things Apple no matter how delusional, you may now call me some more names – you can begin with the familiar “troll” – that’s something no one has thought of lately. Flame on. But, iCal this.
You always have some thoughtless hate to spread around.
Absolutely not Mr. Tflint! I don’t hate Tim Cook at all. I hate that the longer he languishes in the office of CEO that (1) my investment in AAPL is going nowhere and (2) the company I have so long admired, defended, and supported with tens of thousands of personal dollars to acquire everything they make will languish dead in the water. We need and should demand new, visionary, inspired leadership. We have the role model of who we need, the company’s directors just need to find the right person to emulate him. And, for anyone who hasn’t yet figured it out, it certainly isn’t Tim Cook.
Oh, so you bought high, eh?
Did you realize your loss by selling low? Or are you simply upset because you aren’t getting your own way?
If you’re so brilliant, who would you suggest replace Tim Cooke?
Just curious…
He’s not brilliant, in fact he does not even have enough attention span to comment on the article, i personnally would kill myself if the only thought going through my mind is to get rid of tim cook !-)
Not a suggestion, by any means, for our little pp, just saying i think the world would be better off…..
Consumers have less money this quarter with the restoration of payroll taxes. Apple is going to feel the an impact to some degree.
So let me get this right… it goes down a whopping 14% and the writer calls it a “Dip”, which is more like “will tank” and he refers a 1% gain on recovery a “Surge”? Can someone please take this Analyst to the pharmacy so he can get his meds!
All of this and I mean all of it is hogwash! The biggest challenge facing Apple Inc. will be the consumer’s appetite to continue to upgrade their devices and moreover Apple’s appeal to the masses. There are signs of the latter softening and frankly my being on my 3rd MBP 15 RD due to Retina display malfunctions, tells me that the need to avoid Faux Pas like this moving forward.