“Citigroup is raising their estimates on Apple (AAPL) to a new Street high,” Notable Calls reports.
“Firm now expects $7.0B rev(prev $6.9B, consensus $6.95B), 36.5% GM (35.2%, ~33.5%), and EPS of $1.23 ( prev $1.14, consensus $1.06),” Notable Calls reports.
Citi recommends a “Buy” on the stock with a $212 price target and expects Mac unit shipments of 2.1 million (+38% yoy) vs. the analysts’ consensus of 2.06 million, iPod unit shipments of 9.5 million vs. consensus of 10.5 million, and iPhone unit shipments of 1.5 million.
“Citi expects Apple to guide 2CQ revenue flattish sequentially, gross margin down sequentially, and EPS down sequentially, none of which should shock the Street,” Notable Calls reports.
Full article here.
MacDailyNews Note: The analysts’ consensus estimates for Q2 08 are $1.07 EPS on $6.95 billion in revenue vs. Apple’s guidance of $0.94 EPS on revenue of “about $6.8 billion.”
For Q3 08, analysts expect $1.10 EPS on $7.14 billion in revenue.
Apple reports this Wednesday, April 23, at 2pm PDT / 5pm EDT.
[Thanks to MacDailyNews Reader “Mike in Helsinki” for the heads up.]