“In a note to clients on Wednesday, Piper Jaffray analyst Gene Munster noted that Apple was able to maintain the price of its third-generation iPod shuffle players for over 500 days, more than twice as long as the previous price levels which lasted only about 200 days,” Katie Marsal reports for AppleInsider.
“The price cut (38 percent) on the 1GB model (to $49) and introduction of a 2GB model at $69 will result in the average selling price (ASP) of the shuffle line falling from $67 to $55, Munster estimated. Assuming no change in his shuffle unit estimate for the current March quarter, the analyst believes segment revenue would increase 12 percent year-over-year compared to his current estimate of 15 percent,” Marsal reports. “Apple’s iPod business should also see help from ‘cheaper, innovative iPods with Wi-Fi and multi-touch technology” in the not too distant future.”
“These assumptions and others lead the analyst to remain bullish on shares of the Cupertino-based electronics maker, which he rates a Buy with a $250 price target,” Marsal reports.
Full article here.
MacDailyNews Note: Apple’s iPod unit sales:
• Q4 03: 336,000
• Q1 04: 733,000 (holiday quarter)
• Q2 04: 807,000
• Q3 04: 860,000
• Q4 04: 2,016,000
• Q1 05: 4,580,000 (holiday quarter)
• Q2 05: 5,311,000
• Q3 05: 6,155,000
• Q4 05: 6,451,000
• Q1 06: 14,043,000 (holiday quarter)
• Q2 06: 8,526,000
• Q3 06: 8,111,000
• Q4 06: 8,729,000
• Q1 07: 21,066,000 (holiday quarter)
• Q2 07: 10,549,000
• Q3 07: 9,815,000 (iPhone: 270,000)
• Q4 07: 10,200,000 (iPhone: 1,119,000)
• Q1 08: 22,121,000 (iPhone: 2,315,000)
I guess numbers would have gone up more if a 64 or 128 GB iPod Touch was available.
That’s ok, the stock price can stay down for another few weeks, until I can get together the money for a few more shares at this current sale price. Then it can start moving northwards again…
So much about stock prices is not about real value but rather expectations. This is such a great buying opportunity but we are in fearful times. The market never stays down. APPL is not going to stay where it is and it isn’t going down very much before it climbs back to $200 plus – read the numbers. Serious Apple gains lie ahead.
Well done Piper Jaffrey.
About time that someone has the cajones to stand up and say something sensible.
I wish to God I had a heap of notes to buy APPL at 123, because they’re right it will be back up there in due course.
I can hardly wait until Apple has a bigger market cap than Microsoft. Maybe this Yahoo purchase will help hasten Microsoft’s decline.
Munster is 1000% right. Even in tougher times AAPL will OUTPERFORM financially. Gaining market share, innovating into more sales and income Apple outpaces all the other competition especially in slow and downturn markets.
Forget about the market cap or the stock price, leave that to economists.
Just bought 50 more shares @ $122 today.
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People with AAPL stock should be prepared to hold it until around three years from today. You haven’t lost any money unless you sell it for less than you paid. Cross your fingers and take a deep breath.
I might just buy a few more shares .
Apple schould addvertize on the Rush Limbaugh show. Rush has always ben a Big Apple Fan. Rush Has 5,000,000 daily listeners, who are like Apple fans… VARY Loyal and Smart and like the best of things
rog-
That’s not a bad idea.
Even though Rush is a drug-addled blow-hard, hey,
WHO AM I TO PASS JUDGEMENT?
That is a SERIOUSLY good idea, though.
rog the Dodge dodged English 101.
I recently bought a fwe hanfuls of AAPL and will be adding to it from time to time. Go Apple !
Where the edit button ?
… meant to say “a few handfuls”
“About time that someone has the cajones to stand up and say something sensible.”
This was the same guy who said he knew for sure Apple was going to hit 130. Except he didn’t inform the buying Pigeons oops Public about that info until after the fact.
Don’t expect anything but rosy predictions from Apple stock salesman Munster.
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