“Needham analyst Charlie Wolf this morning repeated his Buy rating and $450 price target for Apple, while raising his earnings estimates based on indications of stronger-than-expected Mac and iPad sales,” Eric Savitz blogs for Forbes.
“Wolf writes in a research note that he has raised his forecast for FY Q3 iPad shipments to 9 million unit from 7.5 million on ‘the strength of unprecdented worldwide demand,'” Savitz reports. “Rivals, he says, have ‘fallen woefully short in matching its features, ease-of-use and the number of applications written for the device. Indeed, the only risk in our forecast is on the supply, not the demand side.'”
Savitz reports, “Wolf also raises his forecast for Q3 Mac shipments to 4.25 million from 3.75 million, which would be up 22.4% sequentially.”
Full article with Needham’s new FY 2011 and FY 2012 estimates here.