“Barclays Capital‘s Ben Reitzes this afternoon reiterates an Overweight rating on shares of Apple (AAPL) and a $750 price target, writing that his counterparts are cutting estimates for the company for the June-ended fiscal Q3 even though investors have already arrived at what he thinks are more reasonable expectations,” Tiernan Ray reports for Barron’s. “‘In terms of the iPhone, our checks indicate that some of the fears could be overblown,’ writes Reitzes.”
Ray reports, “Specifically, Reitzes is modeling $36 billion in revenue and EPS of $9.62, which is below the consensus estimate for $37.63 billion and $10.37 per share. Reitzes bases his estimate on expected sales of 27 million units of the iPhone, 4.5 million Mac units, 6.5 million iPods, and sales of 14.2 million iPads, which could actually be higher by a couple million units, given sales of the lower-priced iPad 2 into educational institutions.”
Read more in the full article here.
MacDailyNews Note: On April 24, 2012, Apple CFO Peter Oppenheimer gave Q312 guidance of “revenue of about $34 billion” and “diluted earnings per share of about $8.68.”
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