Analyst raises Apple estimates on hot iPad, iPhone, Mac sales
Canaccord Adams technology analyst Peter Misek has raised his price target on Apple to US$300 from $250 or 20%. He's forecasting hot iPhone and Mac sales, as well as much better than anticipated iPad sales.
“Our survey and channel checks indicated widespread sell-outs [of the iPad] at Best Buy stores, however Apple stores appeared to have more stock and thus continued to have inventory. We believe that around 700K iPads were sold so far, including 500K of pre-orders,” Misek told clients in a note today. "We also took this opportunity to channel check Apple’s other product lines and, as a result, are adjusting our shipment estimates for iPads as well as iPhones and Macs.”
The analyst has raised his iPad shipments for fiscal year 2010 and fiscal year 2011 to 3.7 million and 11.3 million from 1.2 million and 3.5 million respectively. For iPhones, he's now forecasting 35.2 million (vs. 34.9 million) and 54.9 million (vs. 52.3 million) device sales in fiscal 2010 and fiscal 201. For Macs, his estimates climb to 4.3 million (vs. 3.9 million) and 4.7 million (vs. 4.1 million) for fiscal 2010 and fiscal 2011, respectively.