Morgan Keegan ups Apple iPad estimates, stock price target to $480

“Morgan Keegan’s Tavis McCourt raised his iPad estimate for the current quarter to 8.5 million units, from a prior 6.5 million, and raised his full-year estimate to 30 million units from 25.5 million previously,” ,” Tiernan Ray reports for Barron’s. “The change is to ‘adjust for various data points’ since Apple’s fiscal Q1 report back in April, he writes.”

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“McCourt reiterated an Outperform rating on Apple shares and raised his price target to $480 from $462,” Ray reports. “McCourt also raised his iPhone estimate for this quarter, to 17 million units from 16 million, though he cut his September-quarter estimate to 19 million from 22 million, because the exact timing is not known for the next iPhone model. McCourt is leaving unchanged a forecast for 100 million iPhone units in all of fiscal 2012.”

Read more in the full article here.


    1. Oh, please. Coiled spring? More like a bedspring that some 800 lb. super-obese dude has been lying on for seven months. Even if he gets off it, the spring will just stay compressed. This is Apple we’re talking about. You know, the short-sellers best friend. With the talk about the all-encompassing Samsung suit, Apple stock is practically begging to be shorted.

      The hedge funds have Apple in their back pocket to be used whenever they need to build up their cash supply every week to buy some high-P/E, rising stocks. Apple stock is their sturdy footstool. Why would they give up such a good deal? Having Apple stock rise long term is no advantage to them so they just keep cycling it in a narrow range week after week. The individual Apple investor is an afterthought. Long Apple bulls are nothing but mere fodder for the big short-term players.

      Take one look at today’s Apple trading range with the market as up as was and you know something is fishy. That Apple fish is stinking up the joint.

  1. Morgan Keegan’s Tavis McCourt should have been fired by now. Or, for that matter, never hired.

    One Apple said it sold 6+ million iPads this quarter to 6th June, even not very smart person should have immediately (not three weeks later) understand that sales for the full quarter will be no less than 7-8+ million.

  2. AAPL will be flat thru the summer and then launch like a rocket in the fall! Buy long AAPL do expect a short term trade profit for short term.
    You’ll feel better and sleep better.

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