Piper Jaffray: October sales suggests Apple will sell 2.9 million Macs this quarter

MacMall 96 Hour Apple Sale“Sales figures for the month of October show that Apple is on track to meet Wall Street expectations for its first financial quarter, which includes the busy holiday season,” Neil Hughes reports for AppleInsider.

“But given that nearly 50 percent of Mac sales in the three-month frame take place in the month of December, it is still too early to tell with certainty how Apple will perform, Gene Munster, analyst with Piper Jaffray, told investors in a note released Wednesday afternoon,” Hughes reports. “Retail sales data from NPD Group for the month of October suggests that Apple will sell between 2.8 million and 2.9 million Macs in the December quarter; Wall Street consensus is said to be about 2.85 million.”

Hughes reports, “If those estimates hold true, that would put overall Mac sales up 14 percent year-over-year. NPD data for October was up 7 percent year-over-year… Piper Jaffray has maintained its overweight rating for AAPL stock, as well as a $277 price target.”

Full article here.

MacDailyNews Take: 2.9 million is too low. Barring an unforeseen catastrophe of biblical proportions, Apple will sell over 3 million Macs this quarter.

13 Comments

  1. Yeah I helped too! Just BTO an iMac i7. Delivery: Dec 4.

    Only buy a new computer once every 6 years, not rich. Going a little crazy now. Discovered AirTunes and have maxed out my iBookG4 60GB HD.

    Gonna be a llllloooong 2+ weeks.

  2. December sales do not grow at the same pace of any other quarter. The issue is really very simple. $1300 takes a huge bite out of the Christmas budget. Typically (referring to past 4 December quarters) Mac unit sales have grown an average of 1.3% quarter over quarter. Calendar Q2 and Q3 is where you see significant unit sales growth.

    Most December sales are budget clearing purchases, which explains the average selling price increase of 7% quarter over quarter. These purchases are going to the enterprise, not consumers.

    Still, I’m forecasting Mac unit sales of 3.090 million units, which about 8% above Wall Street consensus.

  3. Hey. Don’t tell them. For the quarter, the actual number doesn’t matter as much as whether Apple beats, meets, or misses it. If they just meet, the stock gets clobbered, if they miss, it’s catastrophic. In fact if they just beat by a little, it will be a disappointment. But they’ll beat 2.9.

    Anyway I’ll add one more; I’m due for a new home machine. i5 next week.

  4. Congratulations on the i7 Cascadians. It says a lot about the product that you chose to buy this when cash isn’t easy to come by – hope it blows you away for years to come. Don’t forget to get AppleCare…..

    I’m holding onto my 24″ 2.8GHz C2D iMac for another year. Average form-factor change for iMacs is 3 years so can’t wait to see what Ives has in store for us all ” width=”19″ height=”19″ alt=”smile” style=”border:0;” />

  5. m159,

    All that you state is only half (or less) of the story. The other half (or more) is future guidance. If Apple guides in the high end of the analysts’ expectations the stock is very likely to go up and viceversa.

  6. I’ll be contributing to those numbers this quarter. My iMac is pushing four years old now and after reading up on the Core i7 I think it should be a big enough performance jump from my Core Duo to finally warrant the upgrade.

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