“Needham analyst Charlie Wolf says Apple’s (AAPL) $1.16 second quarter EPS, and $7.51 billion revenues easily topped guidance,” Standard & Poor’s reports.
“Wolf says there was only one story in the second quarter — Mac sales; in a PC market that experienced 12% growth, Mac shipments rose 51%. He cites three key drivers of the acceleration of Mac shipments: 1) iPod halo effect, where Windows users owing iPods switch to the Mac; 2) Apple Stores, which have emerged as big contributors to Mac sales growth; 3) Mac’s ability to run Windows applications courtesy of the launch of Mac OS 10.5,” Standard & Poor’s reports.
“He cuts $5.35 fiscal year 2008 (September) EPS estimate to $5.25 due to lower interest income. But he raises $6.65 fiscal year 2009 to $6.70. He maintains a $235 price target on the stock,” Standard & Poor’s reports.
Full article here.
Finally some positive analyst remarks… from the firm of Dewey, Needham and Howe.
More on Wu’s poor ability as an analyst.
@Winston
Stop stealing our lines.
Errr, isn’t it simply because Macs are better… miles better?
Needham? I don’t even want ’em!
In other news… MSFT = Strong Sell
@ Three Stooges
Better talk to the tappet brothers, too.
How about OS X vs Vista? Come on Charlie, Macs are a better product and the masses are finally clueing in. Actually, I do think the Halo effect is paying off. The iPod market has alway been youth oriented, and a lot of owners have been adolescents and pre-teens over the past 7 years. Now, as they come into computer buying ages we see them opting for a familiar brand. The PC generation is aging and buying fewer new computers (consumers), and those that do buy are definitely looking to simplify their lives. Macs are book-ending the consumer market right smartly.