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7 July 2020

What to expect at Apple’s earnings call tomorrow (the good)

another apple What to expect at Apples earnings call tomorrow (the good)Despite rampant speculation about Apple chief executive Steve Jobs’ health, Piper Jaffray analyst Gene Munster is keeping it real with an eye on the numbers ahead of Apple’s fourth quarter earning call Wednesday.  What should we expect?

  • 2.45 to 2.55 million Mac shipments in the fourth quarter equally yearly unit growth in the range of 56 to 10 percent and in line with Wall Street expectations
  • average selling prices for Macs likely flat from the third quarter
  • 19 to 20 million iPod shipments in the fourth quarter beating Street expectations of 18.6 million units
  • average selling prices for iPods dropped 12 percent from the third quarter
  • $10 billion in revenue, ahead of the Street’s $9.7 billion
  • $1.32 earnings per share, below the Street’s $1.39
  • conservative guidance of $7.6 billion for the first quarter of 2009, 7 percent below the Street, and $0.90 earnings per share, 20 percent below street expectations

Munster says his predictions are based on extrapolating data from research firm NPD released on Monday.  Unfortunately iPhone numbers are tougher to predict.  Munster estimates 6.4 million unit shipments while the Street opts for 5 million. Several new international carriers and a distribution deal with Walmart will help the numbers, but as more people avoid higher-cost smartphones thanks to the economy, it’s a tough prediction.  One thing we do know is that the iPod Touch has been a big contributor to application downloads from the iTune’s store as of late.

Munster continues to have some serious faith in Apple, even with tough economic conditions and the ever-growing possibility that Steve Jobs will step down permanently as chief executive.  He maintains his Buy rating on Apple shares with a wild $235 price target.  For reference, Apple’s share price currently sits at $79.81.

via appleinsider

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