Eric Savitz blogs for Barron’s, “J.P. Morgan analyst Mark Moskowitz writes, ‘Apple stands to be the high-growth, technology leader, having no rival for some time. The iPhone and iPad rapid growth phenomena, coupled with untapped opportunities internationally for Mac, underpin our confidence in the stock’s major appreciation from current levels.'”
“Moskowitz writes that Apple is ‘the growth story without rival,’ and says he doubts the latest round of estimate revisions will be the last,” Savitz reports. “He sees sales and profit growth ‘far exceeding 20%’ over the next two years. He notes that at 14x his calendar 2011 EPS estimate, the stock trades below its 3-year average multiple of 23x.”
Savitz reports, “The analyst expects iPhone shares to top the 10 million units a month level in the September quarter, earlier than his previous forecast of a ‘March 2011 inflection point.’ As for iPad, he thinks demand will intensify in the back-to-school and holiday seasons; he projects sales of 3.8 million for the June quarter, and 21.5 million for the September 2011 fiscal year.”
Full article here.
[Attribution: Reuters. Thanks to MacDailyNews Reader “dslarsen” for the heads up.]