UBS calls for just 12 million iPads in Apple Q1 results
updated 12:00 pm EST, Fri January 20, 2012
No great expectations for Q2
UBS analyst Maynard Um is calling for 30 million iPhones in Apple's fiscal Q1 results -- set to be announced January 24th -- but just 12 million iPads, according to Barron's. The publication notes that Um's figure sits below Wall Street consensus, which is roughly 13 to 14 million units. iPad estimates have been coming down though, Barron's adds.
The reason for the low iPad figures is unmentioned, but may simply have to do with the tablet being an expensive luxury in a still shaky global economy.
Um's financial estimates are also relatively low, pegged at just $38.5 billion in revenue and $9.90 in EPS versus a consensus of $38.8 billion and $10.03. The company could turn up another $1.08 in EPS, Um suggests, through a reversal of accrued expenses and warranty accruals.
For the current quarter Um argues for a "typical conservative guide" from Apple executives, possibly below his own prediction of $33.7 billion in revenue and $8.54 in EPS. He does caution that quarter-over-quarter comparisons may be imbalanced, since Q1 had an extra week of sales activity.
Fresh-Faced Recruit
Joined: Nov 2008
I love the way the analysts
are able to run down Apple's share price with just a few negative words that aren't even necessarily factual. I'm not saying it matters one way or another, but for such a successful company, Apple's share price volatility is unsurpassed when it comes to killing the share price for shareholders. There were some good reasons for Google and ISRG share prices to be deflated, but other than this rumor, nothing else seems to be causing Apple's share price to drop. I'm sure it's a purposeful manipulative drop right before earnings.