Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Mac News > Needham, Wells Fargo cut Apple forecasts in wake of Q2 results

Needham, Wells Fargo cut Apple forecasts in wake of Q2 results
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Offline
Reply With Quote
Apr 24, 2013, 11:36 AM
 
Some analysts have begun to scale back their forecasts for Apple in the wake of the company's second-quarter financial results. Wells Fargo's Maynard Um has reduced earnings-per-share predictions from $44.51 to $38.71 for FY2013, and from $49.86 to $43.66 for FY2014. His valuation range has been sharply reduced, from $600-630 to $485-525. The analyst cites results that were below Street consensus, but does argue that the worst is behind the company, and says he expects results to improve.

Needham & Co.'s Charlie Wolf has reduced his EPS estimates from $45.70 to $38.90 for 2013, and from $52.20 to $41.30 for 2014. The change is pegged to Apple's third-quarter guidance of $34.5 billion in revenue, which to Wolf means there will probably be no new iPhones or iPads in the June quarter, and that going forward, the company's revenue growth will be "far lower" than it has been. He adds however that even if Apple stock is unlikely to rebound to previous highs very quickly, the company's promised buybacks and dividends should "place a floor" under share prices.
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 01:27 AM.
All contents of these forums © 1995-2015 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2015, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2