Analyst: Quarterly Mac sales to approach 2.9m units
updated 02:15 pm EDT, Mon March 15, 2010
AAPL forecast raised to $284
Piper Jaffray analyst Gene Munster on Monday circulated a report detailing his expectations for Mac and iPod sales through the first quarter of the year. Based on data gathered by NDP Group, Munster believes monthly Mac sales were up by an average of 39 percent year-over-year in January and February.
Strong performance in the first two months of the year is expected to push Mac sales somewhere between 2.8 and 2.9 million units for the full quarter ending in March. Mac shipments are estimated to be up by 26 to 31 percent over the same quarter last year.
Munster forecasts iPod sales to reach between 9 and 10 million units for the March quarter. NPD's numbers suggest iPod unit numbers were up by approximately seven percent year-over-year in January and February, marking the first positive year-over-year growth in more than a year.
Majestic Research analyst Tony Berkman also expects Apple stock to beat the Street consensus, with revenues projected to be at least ten percent higher than the company's guidance of $11 to $11.4 billion. While many analysts are posting iPhone numbers around 7 million units, Berkman believes the devices could push past 9 million shipments.
Gene Munster remains optimistic regarding AAPL valuation, as he sets a price target at $284. [via Fortune]
