Piper Jaffray: Apple to report in-line or slightly below Street earnings estimates

“Piper Jaffray maintained an ‘outperform’ rating and $103 price target on Apple Computer ahead of its fiscal second-quarter earnings report, scheduled for Wednesday after the market close,” Maya Roney reports for Forbes. “Nevertheless, Munster expects Apple to report in-line or slightly below Street estimates of earnings 43 cents per share on revenue of $4.54 billion.”

“‘Based on our iPod NPD analysis and MacBook Pro inventory issues, we believe our estimates for the March quarter are too aggressive,’ he said. After analyzing the first two months of March quarter NPD data, the analyst concluded that Apple is on-track to meet or slightly miss his iPod unit estimate of 9 million. In addition, he said his 1.3 million Mac estimate will likely prove to be too high,” Roney reports. “Although Munster believes iMac sales were strong in the quarter, he expects total Mac sales to be closer to the Street’s average estimate of 1.16 million given the lack of MacBook Pro supply… ‘Following the March quarter results report, we believe the Street will start to place more focus on the back half of calendar 2006.’ The analyst believes Apple will benefit from the full availability of Macs (MacBook Pro), new Mac releases (iBook, Power Mac), new iPods (larger screen video iPod, higher capacity nano), and tailwind from seasonality.”

Full article here.

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Related articles:
Apple to report second quarter 2006 earnings today – April 19, 2006
Apple analysts and investors look for signs of ‘Intel effect’ in tomorrow’s earnings report – April 18, 2006
Cowen & Co survey shows strong Apple Mac sales prospects, Boot Camp impact ‘broadly positive’ – April 18, 2006
What are your expectations for Apple’s earnings report this Wednesday? – April 17, 2006


  1. Sing along:
    “I just want to speculate, yeah, yeah
    I just want to speculate, yeah, yeah
    Another report of earnings,
    I just want to speculate another target price!

    Had my hand on the dollar bill
    And the dollar bill blew away
    But the sun is shining down on me
    And it’s here to stay
    That’s why I’m telling you!”

  2. And . . . since the stock market is like gambling . . . sing some more:

    Born a natual loser, I can’t recall just where
    Raised on pool and poker, and a dollar here and there
    Blackjack hand, dealer man, you better pay off that last bet
    Two bit hand, a twenty-one, is all I ever bet

    Down in a crap game, I’d been losin’ at roulette
    Cards are bound to break me, but I ain’t busted yet (‘Cause I been) Called a natural lover by that lady over there
    Honey, I’m just a natural gambler but I try to do my share

    Go down gamblin’
    Say it when you’re runnin’ low

    Go down gamblin’
    You may never have to go

    (MW: “blood” — seriously!)

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