“Shares of Apple (AAPL) are up $1.83, or 0.4%, at $489.05, after the company this afternoon confirmed weeks of speculation it will hold a media event next Tuesday, September 10th, at its headquarters in Cupertino, California,” Tiernan Ray reports for Barrons.
“Piper Jaffray‘s Gene Munster this afternoon offers up his thoughts on what to expect from the event, reiterating a view that the introduction of both a new high-end iPhone and also cheaper iPhone models will ‘mark the transition back to positive EPS growth,'” Ray reports. “Munster thinks Street estimates are too low, based on a belief that despite lower margin for the less-expensive iPhone model, already 70% of the company’s iPhone sales are ‘in the bag.'”
Ray reports, “Munster is modeling Apple making $190 billion in revenue next fiscal year ending September of 2014, with $44.03 per share in net profit. That is better than the Street consensus for $180.7 billion and $42.44 per share.”
Much more in the full article here.
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