Oppenheimer ups Apple target, estimates

Apple Online Store“‘We’re raising our Apple estimates ahead of what should be strong March-quarter results [but] we believe the stock reaction will be positive but somewhat muted,’ Oppenheimer analyst Yair Reiner wrote in a research note to clients. ‘The first reason is that F2Q10 EPS upside will probably be kept in check by FX headwinds—a factor largely overlooked by the Street. The other mitigating factor could be Apple’s hyperconservative guidance, which is likely to exclude the potential impact of the next iPhone release,'” Slash Lane Reports for AppleInsider.

More specifically, Reiner:
• raised his F2Q10 estimates to $12.4 billion in revenue and $2.54 in EPS from $12.2 billion and $2.40, respectively.
• pushed his FY10 estimates to $56.0 billion in revenue and $11.98 in EPS from $54.2 billion and $11.46, respectively.
• upped his FY11 estimates to $64.4 billion in revenue and $13.88 in EPS from $60.9 billion and $12.88, respectively.
• increased his FY10 operating FCF estimate to $12.5 billion ($13.56/share) from $11.8 billion ($12.83/share).

Lane reports that Reiner “sees Apple as a long term value and therefore raised his price target to $285 from $265.”

More information in the full article here.


  1. @MIke B

    Stock markets are marathons, not sprints. They fluctuate on a day to day basis and it doesn’t necessarily have anything to do with a specific company’s (AAPL) news or performance.

    It’s like being able to tell if climate change is real or not by walking out into the world at one specific spot, at one specific time. You need big picture info. Whether you believe climate change to be true or not, no determination can be made by such limited data, nor can the same kinds of determinations be made of stock performance.

    My advice as far as stocks go, stop watching them every 5 minutes and look at what they do week-to-week or month-to-month.

  2. WHAT Global Warming. Last 10 years there has been NO global warming. Aaaand for your information, there is and will always be CLIMATE CHANGE. In fact, it changes EVERY SEASON where I live.

    Just another reason to suck money from the people to the government. Don’t fool yourself – none of this is for any other reason but to redistribute the wealth from you and me to the Government.

  3. Getting back On Topic, we’ve seen recent guesstimates from Gartner (up) and IDC (down) regarding the Mac’s standing in the market.
    TBI says they believe Gartner, of the two.
    As for the Off Topic comments: the SEC charges against Goldman are a major precipitator of the downturn. The volcano in Iceland should have a minor effect over a longer term. Zul doesn’t understand that “climate” is not seasonal, but Long Term … and maybe he feels that he – and we? – are C-class executives of power-generating corporations that we should lose money over Climate Change. He IS right about the term “Global Warming” … it’s imprecise, at best.

  4. AAPL is going to pay for my daughter to go to College! I bought shares back in 2004 @ $49, and it split in Feb 2005, giving me a buy price of $24.50 per share. In 6 years, that investment has gone up 10x.

  5. Mike B:

    The banks and the market are scared of all financial CEOs being unravelled and exposed for being complicit in the now evident (duh) free for all, corrupt rape of our country and economy .

    The Goldman charges of fraud – point to Paulson ( remember him? He’s the guy that took the 1st 700 billion of which not one penny has been accounted for just before the inauguration).

  6. It’s a no brainer AAPL will go to $300 by December 2010! Oh yea!!
    Google dropped today big time yet Apple is so consistent on its Record profits and ZERO debts!
    The A4 processor will evolve to be stronger in power and lower price. The iPad experience is growing faster as six million will be sold this year alone.
    Not too late to buy … aye ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  7. My purchase price (“unit cost”) for 50% of my current AAPL shares is a split-adjusted $13.63, according to my online brokerage system. And that’s not even low enough, because I moved the shares from another brokerage, and $13.63 reflects the AAPL price (split adjusted) at the time of transfer into the current system. I think the actual unit cost is more like $8 (after adjusting for the two splits), because I bought them in the low thirties (actual price at purchase). I’ll probably keep these shares “forever.”

    The other 50% of my current AAPL is what I buy and sell, based on what I think AAPL will do in the shorter term (I’m talking months here – I’m not a day-trader). The average unit price of this 50% (didn’t buy all at once) is $153.05 according the online system. I bought the last bit at around $200 a few months ago. I’m fully “in” right now. I’m starting to look for when to sell some, probably between $280 and $300, so this guy’s target of $285 seems reasonable to me.

    It’s too bad I didn’t have the guts to buy more originally. Actually, I did buy more originally, but sold about two-thirds of those original “$8” shares along the way in the name of “diversification.” A bad call, looking at it now, but you can’t get too greedy. It’s not profit until you make the call to sell to “realize” the gain. And if AAPL continues to go up after your call to sell, you still made your profit; your WIN is not diminished.

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