updated 01:55 pm EDT, Mon May 22, 2006
iPod may see downside
Recent NPD data collected for the month of April suggests that Apple may see a slight downside in June quarter iPod results, according to one analyst. PiperJaffray senior analyst Gene Munster has analyzed the first month of NPD data for the June quarter, noting that it suggests iPod units of around 8 million. "When the second month of data is released, our analysis will likely lead to a slightly different iPod unit figure than what our analysis suggests based on the first month of data," Munster wrote in a research note obtained by MacNN. Wall Street is currently expecting 8.6 million iPods in the June quarter, up from PiperJaffray's estimate of 8.25 million. PiperJaffray maintained its "outperform" rating on Apple shares with a price target of $99.
The analyst does not believe the lower numbers will come as a complete surprise to investors, however.
"Recent chatter in various articles and Web postings about trends with component suppliers have suggested that iPod units were slower than expected in April, so we do not think investors will be surprised by this early datapoint."
Munster also suspects "Grads and Dads" buying could increase May and June iPod sales.