Ticonderoga Maintains a 'Buy' on Apple (AAPL); With Over 25 Million iPads Sold, Expect Strong 3QFY11 for iPad
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Price: $305.93 +0.22%
Rating Summary:
44 Buy, 29 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
44 Buy, 29 Hold, 9 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Ticonderoga maintains a 'Buy' on Apple (NASDAQ: AAPL), PT $612.
Ticonderoga analyst said, "During today's Worldwide Developers Conference, the Wall Street Journal indicated in a live blog this afternoon that Apple highlighted selling over 25 million iPads in the first fourteen months since the product was launched on April 3, 2010. By our estimates, Apple had sold 19.48 million iPads through the March quarter. As such, this equates to Apple selling at least 5.52 million iPads through the first two months of the June quarter. Assuming a similar monthly rate in June, this would equate to 8.28 million iPads for the June quarter. Essentially, this would be in line with our full quarterly estimate of 8.2 million that we highlighted in our note this morning was still achievable. Keep in mind, our estimate is well above the Street consensus."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $343.44 yesterday.
Ticonderoga analyst said, "During today's Worldwide Developers Conference, the Wall Street Journal indicated in a live blog this afternoon that Apple highlighted selling over 25 million iPads in the first fourteen months since the product was launched on April 3, 2010. By our estimates, Apple had sold 19.48 million iPads through the March quarter. As such, this equates to Apple selling at least 5.52 million iPads through the first two months of the June quarter. Assuming a similar monthly rate in June, this would equate to 8.28 million iPads for the June quarter. Essentially, this would be in line with our full quarterly estimate of 8.2 million that we highlighted in our note this morning was still achievable. Keep in mind, our estimate is well above the Street consensus."
For more ratings news on Apple click here and for the rating history of Apple click here.
Shares of Apple closed at $343.44 yesterday.
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