Friday, July 18, 2008

Apple on Deck Monday

From Barron's Blog:

Apple, as it happens, provides the next big milestone for tech investors after the close on Monday, when it reports earnings for its fiscal third quarter ended June. The Street is looking for revenue of $7.36 billion and profits of $1.08 a share. The company’s guidance was for $7.2 billion and $1 a share.

Gene Munster, analyst with Piper Jaffray
, wrote in a note earlier today that the key to the quarter will be Mac sales: he sees 2.35 million units, which he says is ahead of the Street consensus of 2.2 million. He expects 10.5 million iPods for the quarter, versus the Street at 10.3 million. He puts iPhone units for the quarter at 730,000. If the company hits those numbers and turns in a gross margin of 33%, he says, Apple would post $7.67 billion in revenue and profits of $1.13, well above both the guidance and the Street.

Just an anecdotal comment, a friend stood in line for four hours yesterday in Walnut Creek to buy the new Apple 3G iPhone to replace her Palm Treo (running Windows Mobile).  She said the line went down the block, and the ATT store sent someone out to count folks.  After matching people to iPhones, the ATT employee stood at the end of the line to ensure no additional people lined up. 

I wonder if Jolene Blalock has an iPhone?

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