“J.P. Morgan Securities cut its fiscal 2008 earnings estimates for Apple Inc., citing the company’s plan to account for iPhone revenues and profits as subscription over a 24-month period,” Reuters reports.
Reuters reports, “The brokerage kept its ‘neutral’ rating on the stock, adding that at the current share price, risk versus reward for Apple remains unfavorable.”
“J.P. Morgan cut its 2008 earnings estimates for Apple to $3.33 a share from $3.93 a share, and revenue forecast to $28.25 billion from $32.33 billion,” Reuters reports.
Reuters reports, “J.P. Morgan said it maintained its rating as while Apple’s latest quarterly results ‘significantly exceeded’ expectations, risks such as hiccups with the iPhone’s initial launch, more limited Mac share gain potential, and reduced leverage from flash price declines remain.”
Full article here.
[Thanks to MacDailyNews Readers “Fred Mertz” and “LinuxGuy and Mac Prodigal Son” for the heads up.]