“Among those contemplating Apple‘s fiscal Q2 earnings report on April 23rd is R.W. Baird‘s William Power, who today reiterates a Neutral rating on the shares and a $465 price target, writing that the June-quarter outlook looks to be a disappointment,” Tiernan Ray reports for Barron’s.
Ray reports, “Writes Power, the Street is not being realistic about how much the iPhone’s sales are evaporating, and there isn’t the customary Spring iPad update: ‘We expect a sharper fall-off in iPhone sales due in part to heightened competition, and the lack of a March/April iPad refresh to depress this year’s sequential comparison relative to a year ago.'”
Read more in the full article here.
MacDailyNews Take: R.W. Baird‘s William Power couldn’t analyze his way out of a wet paper bag.
William Power’s opinions about Apple are as changeable as a baby’s bottom. – Phillip Elmer-Dewitt, Fortune, January 28, 2013
Baird Equity analyst William Power’s opinions about Apple are as changeable as a baby’s bottom – January 28, 2013