“Apple’s second quarter results are just a couple short weeks away, and Credit Suisse analysts believe the company will beat expectations,” Mark Knapp reports for Wall St. Cheat Sheet.
“Credit Suisse’s Kulbinder Garcha reiterated an Outperform rating and a price target of $600 on Apple shares Tuesday morning in a research note seen by Barron’s,” Knapp reports. “He expects solid growth in iPhone sales in the second quarter, but predicts a slowdown during the third quarter… Garcha wrote, ‘Apple remains well position with a privileged advantage in the compute market and will be able to maintain momentum across key product lines driven by continued innovation in hardware, software and services.'”
Knapp reports, “For the second quarter, iPhone sales are expected to reach 38 million units, which represents a year-over-year increase of 9 percent. But, for the third quarter the analyst’s sales expectations are set at just 31 million units… [which] would still be an 18 percent increase from the year-ago quarter.”
Read more in the full article here.
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