JP Morgan raises earnings estimates and stock target for Apple

Fri, Jul 17, 2009

Finance, News

Analyst Mark Moskowitz of JP Morgan recently raised his target price for Apple Stock to $167.50, up from a previous target of $155.  As an aside, since when do analysts give out price targets for stocks that include 50 cents?

In any event, Moskowitz anticipates Mac sales of 2.5 million for the quarter, an increase from his previous estimate of 2.13 million.  Moskowitz also expects Apple’s EPS to come in at $1.23, a significant increase from his previous estimate of $1.12.

As we reported earlier, Bill Shope of Credit Suisse anticipates earnings of $1.13 a share on revenue of $8.14 Billion.  Shope also expects Apple to report 2.4 million Macs sold for the quarter.

Apple is due to report its earnings next Tuesday on July 21 after the market closes.  Interestingly, there is a rumor floating around that Apple CEO Steve Jobs will make an appearance at the earnings conference call.

The consensus among analysts for Apple’s upcoming earnings report comes in at $1.16 a share on revenue of $8.16 billion.  Last year during the same quarter, Apple reported earnings of $1.19 a share on revenue of $7.46 billion.


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1 Comments For This Post

  1. Neil Anderson Says:

    Good call.

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