Canaccord Genuity’s Mike Walkley this morning raised his already fairly high estimate for this quarter’s sales by Apple (AAPL) of its iPhone from 27 million units to 29 million units, after his “checks” last month suggested the iPhone 4S was the top seller at AT&T (T), Sprint-Nextel (S), and Verizon Communications (VZ).
Not hard to imagine, one would think, given the strong opening weekend performance of over four million units. Walkley writes that the iPhone 4, which was discounted to $100 with a contract, was a “top three selling model” at all three carriers.
Walkley raised his fiscal 2012 pro-forma EPS to $33.52 from $33.10, and raised his fiscal 2013 estimate to $39.96 from $39.01.
Walkley joins other analysts who’ve already raised their estimate for Q4, Apple’s fiscal Q1, including RW Baird’s William Power, who upped his numbers last week.
Walkley, who maintains a Buy rating on Apple shares, also raised his price target to $560 from $545, based on a 14 times multiple of his 2013 estimate.
Apple share this morning are down $2.94, or 0.7%, at $400.13.
No comments:
Post a Comment