“Shebly Seyrafi, an analyst with Caris & Co., this morning raised his price target for Apple (AAPL) to $115 from $110, asserting that iPod sales in the June quarter should be up from the March quarter. Seyrafi says he now sees iPod units in the quarter growing to 11.9 million units from 10.5 million in Q1; his previous forecast called for a decline to 10 million units,” Eric Savitz blogs for Barron’s.
“He also sees upside for the iPhone, and suggests that his already startling numbers could be too low. Seyrafi expects 17 million units in fiscal 2008 and 25 million in fiscal 2009 – remember that Apple CEO Steve Jobs had predicted getting to 1% global market share, or about 10 million phones, in the first year,” Savitz reports.
MacDailyNews Note: Apple CEO Steve Jobs’ publicly stated target is 10 million iPhone units by end of 2008, not “in the first year.” iPhone is expected to begin shipping in June 2007.
Savitz reports, “Seyrafi raised EPS estimates to $3.52 from $3.43 for the September 2007 fiscal year; to $3.73 from $3.54 for ‘08, and to $4.42 from $4.21 for ‘09.”
Full article here.
[Thanks to MacDailyNews Reader “jalex” for the heads up.]