toggle

AAPL Stock: 126.44 ( -0.16 )

Printed from http://www.macnn.com

BMO raises Apple price target to $460 on iPhone sales

updated 01:15 pm EST, Fri December 30, 2011

Sprint, KDDI showing good results, analyst says

BMO Capital Markets' Keith Bachman this week raised his price target for Apple stock from $455 to $460. The analyst now sees Apple shipping 29.5 million phones in the December quarter, with the potential of hitting 32 million. An earlier estimate called for just 28 million units.

The new numbers are based on hints of strong iPhone sales at US carrier Sprint and Japan's KDDI. Bachman cites "conversations with Sprint sales reps" as pointing to Apple "benefiting from material upgrades of Sprint subscribers." For the December quarter, the analyst has raised his earnings-per-share estimate from $9.55 to $9.82; for the 2012 fiscal year, he is shifting from $33.50 to $34.68. An early 2013 forecast has been tweaked to $39.62 from $38.80.

In terms of the March quarter Bachman is calling for EPS of just $7.59, despite a $7.86 average estimate. The reason, he explains, is that he anticipates slower iPad sales as people wait for a next-generation model.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

  1. ggirton

    Joined: Dec 1969

    -1

    BMO fires the shot heard

    nowhere.

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Prong PWR Case

Ultimately there's one thing we all want from smartphone accessories; we want options. When it comes to keeping our iPhone charged, w ...

iHome iBT74 Color Changing Bluetooth Speaker

There's no reason why your tech can't look good while doing what it was designed to do. That's the reason that sports cars look goo ...

Logitech Gaming Daedalus Prime Mouse

Logitech Gaming continues to expand upon its peripherals line, with each one looking to fit neatly into a breadth of gaming needs. Bui ...

toggle

Most Commented