“Bernstein’s Toni Sacconaghi added 2.3 million units to his iPhone estimate on Friday. Piper Jaffray’s Gene Munster nearly doubled his iPad number. Hudson Square’s Daniel Ernst raised his price target, from $300 per share to $500,” Philip Elmer-DeWitt reports for Fortune.
“With Apple’s (AAPL) products flying off the shelves and its shares setting new record highs every trading day in October (the stock closed Friday at $314.74, up $12.43 for the day), analysts who had let their spreadsheets get dusty over the quarter had a lot of catching up to do,” P.E.D. reports. “According to Thomson Financial, the Street’s Q4 revenue consensus jumped $100 million in the space of a week, from $18.76 billion to $18.86 billion.”
P.E.D. reports, “We’ve been doing our own, somewhat more detailed polling, comparing the estimates of a select group of Wall Street professionals with those of a small community of blogger-analysts who follow Apple for their own fun and profit and whose numbers, frankly, tend to be closer to the mark.”
“Curiously, the two groups, which in recent quarters had been growing closer, at least in terms of their average estimates, seem to have drifted apart again,” P.E.D. reports. “Both are expecting Apple to report strong year-over-year revenue growth — anywhere from 55.2% to 66.9%, with the bloggers 7.5% more bullish than the pros. But they can’t agree on iPad unit sales, or on the bottom line.”
Full article with the full list of analysts’ estimates here.