“Unlike last year where consensus estimates ran unreasonably high for iPod maker Apple Computer, the Street’s expectations for the new year have finally reset to a point where Apple has room to surprise, says American Technology Research,” Katie Marsal reports for AppleInsider.
Marsal reports, “‘One of our key concerns on Apple in 2006 was that we believed published consensus estimates were too aggressive (particularly revenue) and no where near Apple’s guidance, but more importantly, didn’t make any logical (financial or business) sense,’ analyst Shaw Wu wrote in a note to clients Wednesday morning. ‘Fortunately for longs, most investors agreed with this assessment and discounted the nonsense and gave Apple a ‘freepass.””
Marsal reports, “Looking ahead to the next 6-12 months, Wu said consensus estimates appear more reasonable, and will likely prove conservative. ‘We believe estimates have finally been reset, leaving Apple room to surprise on the upside,’ he wrote.”
Full article here.
MacDailyNews Note: Apple is scheduled to announce Q1 07 Quarterly Earnings results and hold their quarterly Conference Call after market close on January 17, 2007.