BMO reduces estimates, predicts bad Q1 results
updated 03:15 pm EST, Wed January 21, 2009
BMO Q109 preview
Apple may not do well at all following its Q109 financials, says Keith Bachman of BMO Capital. Though holding to an "Outperform" rating, the analyst has reduced his price target from $108 to $100, and his projected EPS for FY09 from $4.60 to $4.58. Mac shipments are predicted to be 10 million for the upcoming year, instead of 10.4 million.
Bachman further suggests that Apple will be extremely pessimistic in guiding for the March quarter, calling for an EPS of 75 to 85 cents, far below Street consensus of $1.13. The only immediately positive news is seen to be iPod shipments, for which Bachman has raised his Q109 forecast from 19.8 million units to 20 million.
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analyst forcasts
I don't know how any of these guys can keep getting paid!