Kaufman supports iPhone pushing gross margins
updated 04:05 pm EDT, Tue July 21, 2009
Kaufman Q3 forecast
The Kaufman Bros. research firm says it anticipates strong numbers from Apple's Q3 results, expected at 5PM Eastern. EPS may reach $1.21, and echoing UBS, Kaufman predicts a higher-than-anticipated iPhone contribution that will drive gross margins. The firm does caution that margins will be hurt by low inventory, and customers waiting for new releases.
Gross margins are expected to climb to 34.4 percent, versus a guidance of 33 percent. $8.2 billion in revenue is now being forecast, up from $8.1 billion; similarly, the new EPS number has risen from $1.17. Estimates call for 2.4 million Macs, 10 million iPods and 4.1 million iPhones.
Kaufman argues that coming quarters will have several catalysts, such as Mac OS X Snow Leopard, new iPods, and new desktop Macs.
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Apple Delivers
Mr. Munster... where did your numbers come from?