Goldman Sachs Raises Q2 Estimates on Apple (AAPL), But Lowers Q3 Due to Supply Chain Disruptions

Goldman Sachs raised second quarter estimates on Apple (NASDAQ: AAPL), but trimmed third quarter estimates due to the supply chain disruptions from the earthquake in Japan.

For the March quarter (Q2), Goldman expects the company to report solid upside due to increasing iPhone and iPad demand momentum. They raised their March revenue and EPS estimates to $22.95 billion and $5.37, from $21.99 billion and
$4.99, which compares to the consensus of $23.18 billion and $5.33.

For the June quarter (Q3), Goldman expects the guidance to be very conservative, due to the supply chain disruptions from the earthquake in Japan. They are lowering revenue and EPS estimates to $22.67 billion and $4.67, from $22.66 billion and $5.00, which compares to the consensus of $23.80 billion and $5.28.

Despite the lowered estimates, Goldman is still very positive on the stock.

"We believe this short-term disruption presents a unique buying opportunity for Apple’s stock, and we reiterate our Buy rating (CL) and 12-month target price of $450."

Apple will release its second quarter earnings on Wednesday, April 20, 2011.

For more ratings news on Apple click here and for the rating history of Apple click here.

Shares of Apple closed at $332.40 yesterday.

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