Don't let the Wall Street seesaw fool you when it come to this solid performer. Go to an Apple store and just watch the activity then multiply that times every country in the world. Consider every enterprise jumping from Blackberry to iphone due to Citrix, cloud computing, exchange server mail and cross-platform apps. Think of how desperate Microsoft looks in their latest commercials.
One could have made $20 a share in one day last week when it dipped to $124.
Now via StreetInsider:
Piper Jaffray Raises Q4 Estimates on Apple (AAPL)
Piper Jaffray raises its Q4 EPS, sales and Mac, iPod and iPhone unit estimates on Apple (Nasdaq: AAPL) following better-than-expected recent NPD growth rates. The firm maintains its Buy rating and $250 price target on shares of Apple. Piper also keeps Apple on its Alpha List, suggesting appreciation in excess of 5% over the next 90 days as a result of a near-term catalyst or market event.
The firm raised its Q4 GAAP EPS estimates from $1.04 to $1.17, versus the Street's adjusted estimate of $1.11, and sales from $7.9 billion to $8.37 billion, versus the consensus of $8.07 billion. Piper also raised its Mac units estimate for Q3 from 2.5 million to 2.8 million, its iPod units estimate from 10.8 million to 11 million, and its iPhone units estimate from 4.1 million to 5 million.
Piper's Gene Munster believes the Apple iPhone will, for the first time, make up a "meaningful percentage of booked revenue." The firm is modeling for 21% of booked sales, compared to 4% last quarter.
Shares of Apple have just opened today's trading session down $1.80, or about 1.25%, to $139.10.
Apple, Inc. designs, manufactures, and sells personal computers, portable digital music players, and mobile communication devices, as well as related software, services, peripherals, and networking solutions worldwide.
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