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

November 17, 2008 3:14 PM EST
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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.

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