Analysts regroup following Apple’s Q1 2013 earnings

Thu, Jan 24, 2013

News

In the wake of Apple’s earnings – which were actually pretty impressive if you’re not blinded by the sinking stock price – a number of analysts have issued their thoughts on Apple’s recent quarter and what to expect going forward.

Peter Misek, an analyst with Jefferies, said that while the company’s gross margin and EPS exceeded estimates, iPhone shipments were disappointing. If you recall, Apple shipped 47.8 million iPhones while Misek was anticipating 53 million. ¬†Funny how an all-time record of iPhones shipped is disappointing simply because it doesn’t measure up to an analysts arbitrary prediction. Note that Wall Street was anticipating about 48.3 million iPhones sold.

Gene Munster, everyone’s favorite Apple HDTV proponent, was slightly disappointed with Apple’s iPhone numbers but remains confident about the company’s future prospects. Munster is keeping his $785 price target for Apple shares.

Ben Reitzes of Barclays was overall pleased with Apple’s earnings, but was taken aback but much lower than expected Mac sales. This however can be attributed to supply constraints and as a result he feels that much of the Mac revenue missing from this past quarter will show up during the March quarter. Barclays maintains its $740 price target for Apple shares.

As for other analysts and Apple price targets, Brian white of Topeka maintains a $1,111 price target for Apple shares while Brian Marshall of ISI lowered his from $710 down to $600.

via Fortune

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