Susquehanna Financial Group’s Jeffrey Fidacaro became the latest Apple (AAPL) analyst today to join the choir of higher estimates for the company’s iPhone sales this quarter, and beyond.
Fidicaro, who has a “Positive” rating on shares of Apple, now sees Apple selling 30.3 million iPhones this quarter, up from a prior estimate of 27.1 million. For the entire fiscal year ending next September, he now models sales of 111.4 million units, up from a prior 104.4 million.
Fidicaro’s main reason for the change is data brought to him by Susquehanna’s semiconductor analyst Christopher Caso, who has made his own “checks” of the electronics supply chain. The data coming back “suggests that earlier component constraints have largely been resolved and build plans have increased for CY4Q11 and CY1Q12,” writes Fidacaro.
Fidacaro is also basing his new estimate on positive remarks from AT&T (T) on December 7th, which first set in motion this latest round of iPhone estimate increases.
He also takes his cue from some anecdotes from retail such as the following: “Demand appears solid as iPhone 4S continues to ship in one to two weeks online and stores are generally sold out for in-store reservation and pickup (still hoping Santa has a few left).”
Fidicaro raised his fiscal Q1 profit estimate to $10.17 per share from a prior $9.40. For the full year, he now sees Apple making $36.66 per share, up from $35.10 previously.
Fidacaro raised his price target on Apple shares to $545 from $535.
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