Canaccord Genuity Morning Coffee on Apple (AAPL): Mac Daddy
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Price: $442.93 +2.23%
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
52 Buy, 12 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade AAPL Now!
Canaccord Genuity Morning Coffee on Apple (Nasdaq: AAPL): Mac Daddy.
Canaccord Genuity Technology Analyst Michael Walkley attended Apple’s World Wide Developer Conference (WWDC) keynote and came away impressed with the refreshed MacBook Pro and Air products, and believes the nextgeneration MacBook Pro with retina display will bolster overall Mac sales. At WWDC, Apple announced new MacBook Air and MacBook Pro models based on new Intel (Nasdaq: INTC) Ivy Bridge processors. With MacBook Air pricing lowered $100 vs. prior models and a new high-end MacBook Pro now featuring a retina display, Walkley believes new MacBook models should generate strong sales and continued market share gains versus Windows PCs. He was also impressed with the features introduced with iOS6, as Apple continues to expand its iOS ecosystem leadership versus competitors. While his June and September quarter Apple estimates remain below consensus given his checks indicating slightly slowing iPhone sales, his December quarter and F13 estimates remain above consensus as he anticipates very strong iPhone 5 sales. While recent checks indicated the iPhone has lost near-term market share that will likely continue through the summer or until the iPhone 5 launch in September/October, he believes increased Mac sales could help offset these declines. Walkley remains bullish on Apple and is raising his target price due to increased MacBook unit and ASP estimates.
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Canaccord Genuity Technology Analyst Michael Walkley attended Apple’s World Wide Developer Conference (WWDC) keynote and came away impressed with the refreshed MacBook Pro and Air products, and believes the nextgeneration MacBook Pro with retina display will bolster overall Mac sales. At WWDC, Apple announced new MacBook Air and MacBook Pro models based on new Intel (Nasdaq: INTC) Ivy Bridge processors. With MacBook Air pricing lowered $100 vs. prior models and a new high-end MacBook Pro now featuring a retina display, Walkley believes new MacBook models should generate strong sales and continued market share gains versus Windows PCs. He was also impressed with the features introduced with iOS6, as Apple continues to expand its iOS ecosystem leadership versus competitors. While his June and September quarter Apple estimates remain below consensus given his checks indicating slightly slowing iPhone sales, his December quarter and F13 estimates remain above consensus as he anticipates very strong iPhone 5 sales. While recent checks indicated the iPhone has lost near-term market share that will likely continue through the summer or until the iPhone 5 launch in September/October, he believes increased Mac sales could help offset these declines. Walkley remains bullish on Apple and is raising his target price due to increased MacBook unit and ASP estimates.
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