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Wednesday, April 23, 2008

Breakdown: Apple analysts place bets ahead of earnings

By AppleInsider Staff

Published: 11:35 AM EST

AppleInsider reader poll:

Who do you think is the most accurate Apple analyst?
Gene Munster (Piper Jaffray)
Shaw Wu (AmTech)
Rich Gardner (Citigroup)
Ben Reitzes (Lehman Brothers)
Mike Abramsky (RBC Capital)
Katy Huberty (Morgan Stanley)
Scott Craig (Bank of America)
Tavis McCourt (Morgan Keegan)
With Apple set to report earnings from its second fiscal quarter after the close of the stock market today, several prominent Wall Street analysts have locked in their bets on profits, revenues, gross margin, and unit sales. Here's a breakdown to help investors pinpoint the winners (and losers) at the end of the day.

On average, analysts polled by Thomson Financial expect Apple to earn $1.07 per share on $6.95 billion in revenue for the three month period ending March, compared to management's guidance of $0.94 and $6.8 billion. Meanwhile, consensus estimates for Mac, iPod, and iPhone unit sales are ~2.1 million, ~8.5 to 10 million, and ~1 to 2 million, respectively.

Below are the latest estimates AppleInsider has on file for some of the leading Wall Street analysts currently providing coverage of Apple.

Piper Jaffray analyst Gene Munster

Profit: $1.19 per share
Revenue: $6.9 billion
Gross margin: 36 percent
Macs: 2.1 million
iPhones: 1.6 million to 2.0 million
iPods: 10.0 million to 10.5 million
Current rating: Buy
Price Target: $250

AmTech analyst Shaw Wu

Profit: $1.10 per share
Revenue: $7 billion
Gross margin: 33.5 percent
Macs: 2.15 million
iPhones: 1.5 million
iPods: 10.0 million
Current rating: Neutral
Price Target: $175

Citigroup analyst Rich Gardner

Profit: $1.23 per share
Revenue: $7 billion
Gross margin: 36.5 percent
Macs: 2.1 million
iPhones: 1.5 million
iPods: 9.5 million
Current rating: Buy
Price Target: $212

Lehman Brothers analyst Ben Reitzes

Profit: $1.05 per share
Revenue: $6.95 billion
Gross margin: 33.2 percent
Macs: 2.09 million
iPhones: 1.5 million
iPods: 10.3 million
Current rating: Overweight
Price Target: $195

RBC Capital analyst Mike Abramsky

Profit: $1.11 per share
Revenue: $7.2 billion
Gross margin: 34 percent
Macs: 2.2 million
iPhones: 1.8 million
iPods: 10.0 million
Current rating: Outperform
Price Target: $190

Morgan Stanley analyst Katy Huberty

Profit: $1.10 per share
Revenue: $6.634 billion
Gross margin: 35.8 percent
Macs: 2.02 million
iPhones: 1.0 million
iPods: 8.5 million
Current rating: Overweight
Price Target: $185

Bank of America analyst Scott Craig

Profit: $1.07 per share
Revenue: $6.9 billion
Gross margin: ???
Macs: 2.021 million
iPhones: 1.22 million
iPods: 10.0 million
Current rating: Buy
Price Target: $160

Morgan Keegan analyst Tavis McCourt

Profit: $1.10 per share
Revenue: $7.143 billion
Gross margin: 34 percent
Macs: 2.092 million
iPhones: 1.4 million
iPods: 10.549 million
Current rating: Underperform
Price Target: ???

Note to analysts: The above figures represent the latest data AppleInsider had on file as of Tuesday evening. If there have been changes to your model, shoot us an email and we'll be happy to make updates to this report.

Filed under : Investor 27 Comments ] 
Story topics: quarterly reports   Print ] [ Story Link ] 


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