NPD Data Suggests Strong Mac, iPod Sales for Q1 -Piper Jaffray (AAPL)

November 17, 2008 3:14 PM EST
Get Alerts AAPL Hot Sheet
Price: $145.37 -1.05%

Rating Summary:
    44 Buy, 20 Hold, 5 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 4 | Down: 3 | New: 5
Trade Now! 
Join SI Premium – FREE
Several analysts at Piper Jaffray, including Gene Munster, issued a research note on Apple (Nasdaq: AAPL) today. Following recent NPD retail data, the report offers an early view of Q1 Mac and iPod sales at Apple. The firm maintains its Buy rating and $250 price target on shares of Apple. Notably, Apple remains on Piper's Alpha List.

Based on analysis of the NPD data, the firm sees Apple's Mac numbers tracking between 2.5-2.7 million for its December quarter. For iPod's, Piper sees data indicating units of 18.5-19 million for Q1. Although the NPD data suggests solid unit sales for both Mac's and iPod's, Piper believes "its too early to call the December quarter..."

Despite Street expectations that a deep consumer slowdown has yet to hit the consumer electronic space, Piper believes that Apple "is well-positioned to weather the storm."

With shares of Apple trading around $89.60 today (down 0.7%) , Piper Jaffray's price target represents potential price appreciation of nearly 180% from current levels.

Apple, Inc. designs, manufactures, and sells personal computers, portable digital music players, and mobile communication devices, as well as related software, services, peripherals, and networking solutions worldwide.

You May Also Be Interested In

Related Categories

Analyst Comments, Corporate News

Related Entities

Piper Jaffray, Piper Jaffray Alpha List, Gene Munster