Domestic data shows Apple's Mac sales up 5% in March quarter
Analyst Gene Munster with Piper Jaffray believes the numbers suggest Apple could miss expectations on Wall Street when it reports official Mac quarterly sales during its earnings call next Tuesday. Investors generally expect Apple sold 4.3 million units during the three-month period, representing a 14 percent year-over-year increase.
Mac sales may end up lower than expected because Apple has not issued a meaningful refresh for its core MacBook Pro and iMac lineups in over a year. Munster believes those two product lines combine to account for 50 percent of Mac sales.
Given the latest NPD data for the March quarter, Munster expects Apple will report Mac sales in the range of 4.1 million to 4.4 million, representing 9 percent to 17 percent year-over-year growth, respectively.
But Mac revenue is expected to be just 15 percent of Apple's overall revenue in the March quarter. Because of that, Munster believes that any Mac "softness" reported by Apple will be offset by strong iPhone and iPad sales.
Looking forward, Munster expects the Mac lineup to pick up steam in the coming months, as Apple is widely believed to be preparing a refresh of its Mac lineup. Specifically, the MacBook Pro, iMac and MacBook Air are all candidates for updates with Intel's latest Ivy Bridge processors.
If all three major Mac products are given an update in the June quarter, Munster believes it would result in a reacceleration of Mac sales that would compensate for any perceived disappointment in the March quarter.
Indications also surfaced earlier this month that Mac shipments were slow in the first quarter of 2012 due to a lack of new hardware. At the same time last year, Apple refreshed its major MacBook Pro notebook line, but this year Apple has been waiting for Intel's next-generation Ivy Bridge processors.
18 Comments
Well, Apple had a nice run I guess.
Maybe the Wall Street games are finally getting into my head, but I'm feeling that AAPL will get punished this earnings quarter.
No matter, I know they'll be over $700 by years end, even considering all worst case scenario's.
No matter, I know they'll be over $700 by years end, even considering all worst case scenario's.
Conflict with Iran involving Saudi Arabia and Israel? Second Great Depression caused by a US default on debt still sends Apple to $700?
May as well restructure the country (world) around Apple, then.
Solid P/E, sales up despite no model refreshes, strong phone and iPad sales, and plans for a dividend... Yep, time to drive down the stock. So what positions (shorts) are being screwed around with prior to the earnings call? Wall St. is just a beautiful thing.
Well, Apple had a nice run I guess.
Apple will report fantastic increases in sales all around but irrational exuberance will punish the stock. The Wall Street Casino doesn't like it when the house looses. Time to send in the Cooler (William H. Macy).
Great movie by the way.