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AAPL Stock: 99.02 ( + 1.35 )

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BMO predicts slowing Apple sales, $105 shares

updated 04:55 pm EDT, Fri March 13, 2009

BMO estimates AAPL at $105

BMO analyst Keith Bachman has trimmed the firm's Apple earnings forecast, based on weak demand for Macs and iPhones compared to previous estimates. Bachman predicts that the March 2009 quarter will see Mac sales of 2.15 million, rather than 2.32 million; iPhones are meanwhile being forecast at 3.2 million, instead of 3.8. iPod numbers are expected to be higher however, jumping from 10 million to 10.6.

For the fiscal year ending in September, Bachman has lowered Mac estimates to 9.229 million, down from 10.004, and iPhones to 14.413 million units versus 16.663. The iPod forecast has corresponding risen to 54.727 million, up from 52.627 million. Looking towards FY10, Bachman estimates 9.573 million Macs (down from 10.8), 15.858 million iPhones (down from 19.996), and 49.8 million iPods (up from 47.41).

EPS estimates for FY09 have slipped from $5.13 to $5.05, and for 2010, have shifted from $5.47 to $5.30. BMO is nevertheless maintaining an Outperform rating on AAPL, and setting a $105 price target. At press time Apple was down less than a dollar at $95.93.




by MacNN Staff

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Comments

  1. danangdoc

    Joined: Dec 1969

    -3

    Apples option

    Apple could really increase it's iPod sales with the next iPod release (before Christmas?) by adding a good camera - 3Mp or better. Why is it that only the iPhone has one? I can save photo's I' get via email on my iPod to it's photo library, and then synch back to my Mac. This would add a great deal of functionality and I would definitely upgrade from my 1st gen model to one with a camera and speakers! Of course, Apple probably planned to do this all along anyway, just to sell even more iPods. I should work for them (or so my friends tell me...)

  1. ggirton

    Joined: Dec 1969

    +1

    outperform

    outperform might not be that good...

  1. lkrupp

    Joined: Dec 1969

    +4

    the Cramer effect

    Based on what we now know about how stock analysts artificially manipulate stock prices in order to short sell I no longer care a rat's a** what they say. Jim Cramer of CNBC specifically singled out Apple as an easy target to manipulate and gave examples of what was done when the iPhone was released to take the stock down.As far as I'm concerned Keith Bachman is a lying sack of bull c*** along with Jim Cramer and any other analyst who makes calls regarding stock prices. They should all be in jail with Madoff. Oh, and that Henry Wu is a crook too.

  1. Swift

    Joined: Dec 1969

    +3

    Who cares about this?

    This is CNBC-class market manipulation. "Projections are down," "we are bullish," all of this junk only has to do with pumping up or deflating the market, in which the "forecasters" already have a short or long position, so they'll make more money and attract investors to themselves. And they've proven over the years what lying sacks of c*** they are.

  1. kw14

    Joined: Dec 1969

    +2

    same thought

    Ikrupp and Swift: I had the same thought: analyst attempt to manipulate AAPL share price. Max-pain is around $90. Option expiration is in a week and the Tuesday March 17 Apple event may keep the price floating high. So enter this analyst to try and hammer the share price down with this timely report. We are such pawns in the market.

    BTW, the Daily Show with Cramer piece was great.

  1. Jittery Jimmy

    Joined: Dec 1969

    +1

    More fake news?

    BMO analyst Keith Bachman could very well be a market manipulator. There is really no reason for me to trust these guys - there is no risk to them when they make bad calls.

    He could be just saying this because one of his friends wants to pick up some slightly cheaper Apple stock this week.

    He COULD be honest and right - but who is to know? He could be just another pretender - like most of them seem to be - that can't honestly say that he spent 40 hours a week for the past 5 years studying Apple versus its peers.

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