Apple slowdown not in the cards this year

“Even though the summer months have traditionally been a slower time for Apple, it looks as if there’s no slowdown this year, as May was a stronger month that it has been in previous years,” Chris Ciaccia reports for TheStreet.

“Cantor Fitzgerald analyst Brian White, who rates Apple ‘buy’ with a $777 price target, noted that following the software innovations at Apple’s Worldwide Developers Conference and implications for Apple at Computex, May sales for the proprietary Apple Barometer were stronger than they’ve been historically,” Ciaccia reports. ” ‘Preliminary May sales (98% of sales have been reported) for the companies in our Apple Barometer have been reported and were stronger than typical seasonality,’ White wrote in a note. ‘Sales in May rose by approximately 6-7% MoM and were above the average increase of 2% over the past nine years.'”

“In the calendar third quarter of 2013, Apple had quarterly revenue of $35.3 billion and earned $7.47 a share, as it sold 31.2 million iPhones, 14.6 million iPads and 3.8 million Macs. That was down from the previous quarter, where Apple posted quarterly revenue of $43.6 billion, and earned $10.09 a share, as it sold 37.4 million iPhones, 19.5 million iPads and just under 4 million Macs. While the calendar third quarter may dip sequentially in 2014, according to White’s numbers, it won’t be as drastic as it has been before,” Ciaccia reports. “Analysts surveyed by Thomson Reuters expect Apple to generate $37.83 billion in revenue, earning $8.53 a share.”

Read more in the full article here.