Barclay’s Capital analyst Ben Reitzes this morning writes that… a two-week delay on Apple’s Web site to ship its iMac reflects not only a graphics chip issue with the machines, as previously reported, but also stronger-than-expected demand,” Eric Savitz blogs for Barron’s.
“He thinks his estimate for Mac sales units to rise 22% this quarter could be low,” Savitz reports. “Also, recent data from research firm NPD show Apple selling more of its higher priced iPod touch among total iPod sales, which could mean a 10% decline in revenue on a 5% drop in iPod units this quarter is also too pessimistic, Reitzes writes.”
Apple (AAPL) stock is “attractive at roughly 26 times his projected fiscal 2010 (ending September) profit projection of $7.55 per share,” Savitz reports. “Reitzes has an ‘Overweight’ rating on the shares and a price target of $235.”
Full article here.