Citigroup raises Apple EPS estimates to new Street high
Monday, April 21, 2008 - 08:36 AM EST
"Firm now expects $7.0B rev(prev $6.9B, consensus $6.95B), 36.5% GM (35.2%, ~33.5%), and EPS of $1.23 ( prev $1.14, consensus $1.06)," Notable Calls reports.
Citi recommends a "Buy" on the stock with a $212 price target and expects Mac unit shipments of 2.1 million (+38% yoy) vs. the analysts' consensus of 2.06 million, iPod unit shipments of 9.5 million vs. consensus of 10.5 million, and iPhone unit shipments of 1.5 million.
"Citi expects Apple to guide 2CQ revenue flattish sequentially, gross margin down sequentially, and EPS down sequentially, none of which should shock the Street," Notable Calls reports.
Full article here.
MacDailyNews Note: The analysts' consensus estimates for Q2 08 are $1.07 EPS on $6.95 billion in revenue vs. Apple's guidance of $0.94 EPS on revenue of "about $6.8 billion."
For Q3 08, analysts expect $1.10 EPS on $7.14 billion in revenue.
Apple reports this Wednesday, April 23, at 2pm PDT / 5pm EDT.
[Thanks to MacDailyNews Reader "Mike in Helsinki" for the heads up.]
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Apple to webcast Q2 08 financial results conference call on April 23 - April 15, 2008
MacDailyNews and iPodDailyNews are Apple Store affiliates and if you buy something from the Apple Store within 24-hours after clicking any one of our Apple Store ads, we will receive an affiliate percentage from Apple. There is no extra cost to you. Canadians please use this link: Apple Store Canada. Thank you in advance for helping to support MacDailyNews and iPodDailyNews.
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• The all-new 13-inch MacBook. The next generation of notebooks starts at $1299.
• The all-new 15-inch Macbook Pro. New design. New features. New technologies. From $1999.
• The all-in-one iMac. Now at speeds up to 3.06GHz. Free shipping. From $1199.
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• iPod nano. New design. New features. Starting at $149. Free shipping.
• Visit the Apple Store today. Free ground shipping on all orders over $50.
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Related articles:
Goldman Sachs raises Apple estimates, price target - April 19, 2008
Caris ups Apple estimates, expects Q2 08 results to beat Street - April 19, 2008
Apple to webcast Q2 08 financial results conference call on April 23 - April 15, 2008
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Whatever happens on the 'street', the stock will drop tomorrow and then come back up in a week. The stock is manipulated ALL the time. Put that in the bank.