“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.