The Mac's holiday momentum
A pair of analysts see an end-of-the-year uptick in Apple's computer sales
Photo: Apple Inc.
"Our conversations with industry contacts suggest that the Mac shipment levels have improved over the last two weeks," writes J.P. Morgan's Mark Moskowitz in a report to clients issued Monday morning.
In that report, he raised his both his estimate for Mac sales in the December quarter (to 3.29 million from 3.17 million) and his Apple (AAPL) price target for the new year (to $230 from $220).
Piper Jaffray's Gene Munster, meanwhile, waited for Monday's data from the NPD Group to come to a similar, but slightly less bullish conclusion. Based on retail data for October and November that show Mac sales in the U.S. up 21% year over year, Munster estimates that Apple will sell between 2.9 and 3 million Macs before the end of the quarter. (The Street is looking for 2.85 million Macs.)
Munster is sticking with his $277 price target. Apple closed at $196.98, up 2.31 points (1.19%) for the day.
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Morgan Stanley, J.P. Morgan (heart) Apple
With Apple (AAPL) set to report quarterly earnings next Tuesday, analysts are dusting off their spreadsheets, taking a second look at the numbers, and making adjustments — mostly upward.
On Friday, it was Morgan Stanley and J.P. Morgan Securities' turn.
The J.P Morgan team, led by Mark Moskowitz, raised most of his Apple estimates, including
- Price target (to $167.50 from $155),
- Q3 earnings estimate (to $1.23 a share from $1.12)
- iPhone unit sales (to 4.34 million from 3.88 million)
- and Mac unit sales (2.50 million from 2.13 million)
Morgan Stanley's Huberty, whose sentiments about Apple tend to go hot and cold, made some even more dramatic adjustments.
