Apple (AAPL): Expect massive holiday Mac sales - RBC Capital

From Notable Calls

RBC Capital is out positive on Apple (NASDAQ: AAPL) saying they are expecting massive holiday Mac sales. November data from RBC's Technology Adoption Panel (3,900 respondents) point to massive Mac momentum in the holiday quarter (Q1/08 end Dec, reporting Jan). They expect 2.4M Macs shipped Q1, up 9% Q/Q and 47% Y/Y, breaking the record 2.2M Q4.The firm expects global Mac share to rise to 3.7% CY08, up from est 3.1% CY07 (US share 9.3% from 7.2%.

On the higher Mac outlook, their F08 estimates become $32.7B revenue ($32.0B prior) and $5.08 EPS ($4.81 prior). F09 outlook increases to $40.4B ($39.3B prior) and $6.19 EPS ($6.02 prior).

Carrier meetings and store visits in UK, France, Germany point to solid European iPhone momentum. Once Apple launches 3G (expected 1H/CY08) and the iPhone in other countries, iPhone sales appear poised for material improvement in demand and momentum.

Reits Outperform and ups tgt to $215 from $205.

Notablecalls: That's certainly good news for Apple fans. Will it be enough to push the stock higher in the n-t? Yes, why not!

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