Notable Analyst Makes 'Significant' Increases to Apple (AAPL) Shipment Expectations
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Rating Summary:
22 Buy, 25 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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J.P. Morgan's (NYSE: JPM) Mark Moskowitz boosted his price target on shares of Apple (Nasdaq: AAPL) from $625 to $715 in a research note Tuesday morning.
Moskowitz made "significant increases" to his first-quarter unit numbers and said he still sees "major upside" to heightened expectations due to "better than expected unit sales activity of the iPhone and iPad."
For Apple's second quarter, the analyst raised iPhone shipments from 28.1 million units to 31.1 million units. For fiscal 2012, expected iPhone shipments rose from 128.7 million to a new target of 138.2 million.
Moskowitz's quarterly expectations for iPad shipments moved from 10.1 million to a new level at 13.8 million. The analyst's shipment estimate for 2012 moved up by 9.8 million units to 69.6 million.
Moskowitz expects a refresh on the iPhone sometime in the second half of calendar 2012. The analyst believes the new device will be thinner and have LTE capabilities.
With companies like Intel (Nasdaq: INTC) and Samsung introducing new Ultrabook models, Moskowitz thinks Apple will be updating its MacBook portfolio with improved specs and lower prices.
The JPMorgan analyst is modeling for Apple to make a bigger impact in the enterprise market with the adaption of Microsoft's (Nasdaq: MSFT) Office suite. Moskowitz pointed out enterprise sales make up 40 percent of all PC sales but just 10 percent of tablet sales.
With Apple shares up 1.5 percent to $627.60 at last check, Moskowitz's new price target suggests potential upside of about 14 percent. The analyst maintains an Overweight rating on shares of Apple.
To track all the market-moving analyst calls on shares of Apple, visit our Analyst Ratings page.
Moskowitz made "significant increases" to his first-quarter unit numbers and said he still sees "major upside" to heightened expectations due to "better than expected unit sales activity of the iPhone and iPad."
For Apple's second quarter, the analyst raised iPhone shipments from 28.1 million units to 31.1 million units. For fiscal 2012, expected iPhone shipments rose from 128.7 million to a new target of 138.2 million.
Moskowitz's quarterly expectations for iPad shipments moved from 10.1 million to a new level at 13.8 million. The analyst's shipment estimate for 2012 moved up by 9.8 million units to 69.6 million.
Moskowitz expects a refresh on the iPhone sometime in the second half of calendar 2012. The analyst believes the new device will be thinner and have LTE capabilities.
With companies like Intel (Nasdaq: INTC) and Samsung introducing new Ultrabook models, Moskowitz thinks Apple will be updating its MacBook portfolio with improved specs and lower prices.
The JPMorgan analyst is modeling for Apple to make a bigger impact in the enterprise market with the adaption of Microsoft's (Nasdaq: MSFT) Office suite. Moskowitz pointed out enterprise sales make up 40 percent of all PC sales but just 10 percent of tablet sales.
With Apple shares up 1.5 percent to $627.60 at last check, Moskowitz's new price target suggests potential upside of about 14 percent. The analyst maintains an Overweight rating on shares of Apple.
To track all the market-moving analyst calls on shares of Apple, visit our Analyst Ratings page.
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