Topeka Cuts Apple (AAPL) FY13 Outlook Into Q3 Report; N-T Issues Won't Affect L-T Value
Tweet
Share
E-mailGet Alerts AAPL Hot Sheet
Price: $168.54 -0.28%
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
39 Buy, 25 Hold, 7 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Join SI Premium – FREE
Topeka Capital's Brian White is trimming estimates on Apple (Nasdaq: AAPL) into the company fiscal third-quarter 2013 report this week.
White notes that the adjustments reflect
Fiscal Q313 revs are expected to be $35.28 billion with EPS of $7.37. The Street sees revs of $35.09 billion and EPS of $7.31.
Looking to FY13, White moved revs and EPS expectations from $178.52 billion and $41.52 down to $167.28 billion and $38.31. For FY14, revs and EPS went from $218.73 billion and $56.68 to $193.96 billion and $45.09.
The Street sees FY13 EPS of $39.41 and revs of $170.8 billion, while FY14 EPS is at $43.34 on revs of $186.2 billion.
White has Apple at Buy with a price target of $888.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $431.76 last Friday.
White notes that the adjustments reflect
demand trends across Apple's portfolio and the timing of new product launches; however, we believe it would be shortsighted for investors to place too much weight on near-term results as we believe a major new product cycle is in the works over the next 12-18 months.
Fiscal Q313 revs are expected to be $35.28 billion with EPS of $7.37. The Street sees revs of $35.09 billion and EPS of $7.31.
Looking to FY13, White moved revs and EPS expectations from $178.52 billion and $41.52 down to $167.28 billion and $38.31. For FY14, revs and EPS went from $218.73 billion and $56.68 to $193.96 billion and $45.09.
The Street sees FY13 EPS of $39.41 and revs of $170.8 billion, while FY14 EPS is at $43.34 on revs of $186.2 billion.
White has Apple at Buy with a price target of $888.
For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.
Shares of Apple closed at $431.76 last Friday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple's June guidance will miss Street estimates - Barclays
- CACI International (CACI) PT Raised to $440 at Stifel
- Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS View, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
