JP Morgan sees better-than-expected Mac, iPhone and iPod growth for Apple; ups target to $230

“JP Morgan Securities raised its price target on Apple Inc. by 4.5 percent, citing better-than-expected growth momentum for Mac, iPhone and iPod,” Mansi Dutta reports for Reuters.

“The upside potential is expected to remain in Mac and iPhone moving through 2010, analyst Mark Moskowitz, who reiterated his ‘overweight’ rating on the stock, said,” Dutta reports. “The analyst raised his estimates for the December quarter and his price target to $230 from $220 on the stock.”

“‘Our conversations with industry contacts suggest that the Mac shipment levels have improved over the last two weeks,’ Moskowitz said. He raised his unit estimate to 3.29 million from his prior view of 3.17 million… The analyst raised his unit estimates for iPhone by about 8 percent to 8.18 million and for iPod to 21.97 million from 21.62 million,” Dutta reports.

Full article here.

4 Comments

  1. 3.3 MM Macs is a huge deal if it is true. I believe Apple shipped 2.6MM last year. So that would be a 30% increase.

    30% is good considering the economic environment. It is amazing because it also means Apple’s economics of scale will improve, i.e. lower component costs, better pricing on manufacturing, improved profitability of their retail and online outlets.

    Passing the 3MM mark in consecutive quarters also means Apple are engaging a lot more customers. It is just like the iPod again: good increases for a few years and then a big jump in sales once iPods became uber fashionable and cornered the market.

  2. 3.300 million is way high. Historic December quarter Mac unit sales growth puts the total at 3.090 million units. So Moskovitz is expecting a unit sales growth nearly 700% higher than historic. I hope he’s right.

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