“Needham & Co. analyst Charlie Wolf has raised his earnings-per-share forecasts for Apple. For the September quarter EPS is now predicted to come in at $7.37, rather than just $6.38; FY2011 has been tweaked by a dollar to sit at $28, and an early FY2012 outlook has been adjusted from $31 to $33,” MacNN reports. “Wolf’s stock target is stable at $540.”
MacNN reports, “The changes are based partly on Mac sales, which are said to have been better than predicted in the present quarter, leading to an increased Needham unit estimate of 4.63 million computers versus 4.4 million. Apple is also expected to have sold 9 million iPads in the quarter, but built as many as 12 million. This should give it as much as three to four weeks of channel inventory, versus an essentially absent inventory at the end of June.”
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