Thursday, October 25, 2007
Piper Jaffray Raises AAPL Target to $250.00
Piper Jaffray's Gene Munster has raised the target price for AAPL to US$250 from $222 based on a detailed iPhone revenue analysis, according to CNBC on Thursday.
While Leopard's launch is expected to add US$240M to Apple's bottom line this quarter, the real story accrding to Gene Munster is a detailed revenue analysis of the iPhone in the outyears.
Mr. Munster is now modelling Apple to sell 3.4 million iPhones in calendar 2007, 12.9 million in 2008, and 45 million by the end of 2009. Based on revenue sharing agreeements with AT&T, reductions in the price of the phone, [leading to greater sales] and expanded worldwide sales, Mr. Munster set his target at $250.00.
"It's a compelling case, even as Apple shares continue to climb," noted CNBC reporter Jim Goldman.
OF: And still NINE weeks till Christmas!